Question

The simple interest on Rs.1000
at 10% per annum for 146 days is :

Answer 1

Answer:

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Answer 2

Simple Interest = Rs 40

Step-by-step explanation:

We are to find the simple interest on Rs. 1000  at 10% per annum for 146 days.

Let P = Principal sum of money

     R = Rate of interest

     T = Time period

The formula for finding Simple interest is given by;

            Simple Interest (S.I.) = $\frac{P\times R\times T}{100}$

Here, Rate of interest if of per annum and also Time period is used for a period of one year.

In the question we are given the time period in days so we first have to convert time period in year, i.e;

     Time period = $\frac{146}{365}$

So, Simple Interest (S.I.)  =  $\frac{1000\times 10\times 146}{100\times 365}$

                                         =  $\frac{14600}{365}$ = Rs 40

Therefore, simple interest on Rs.1000  at 10% per annum for 146 days is Rs 40.