The simple interest of rs.1400 at the rate of 14% for a period from 5 February 1996 to 8april 1996 will be...........
Answers
Answer:
14000 *14/100 33/30
interest would be 2156
amount =16156
pls mark it as brainiest answer
Concept
Simple interest is interest calculated on the principal portion of a loan or the original contribution to a savings account.
A = P + SI = P ( 1 + rt)
where,
SI = Simpe Interest
A = Final amount
P = Principal amount
r = Annual interest rate
t = Time ( in years )
Given
1) Principal Amount = Rs. 1400
2) Annual Interest Rate = 14%
3) Period from 5 Feb 1996 to 8 April 1996
Find
Simple Interest
Solution
Simple Interest = P * r * t
As 1996 was a leap year
No of days between 5 Feb 1996 to 8 April 1996 = 63
Using unitary method
365 days = 1 year
1 day = 1 / 365 years
63 days = 63 * 1/365
63 days = 0.17 years
Simple Interest = P * r * t
= 1400 * (14/100) * 0.17
= 3332/100
= 33.32
Final Amount = 1400+33.32 = Rs. 1433.32
Simple Interest is Rs. 33.32.
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