The simple interest on Rs.1000
at 10% per annum for 146 days is :
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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.) =
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 =
So, Simple Interest (S.I.) =
= = Rs 40
Therefore, simple interest on Rs.1000 at 10% per annum for 146 days is Rs 40.
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