Question

The simple interest on rs.500 at 6percent perannum from may 3rd to july 15th in the same year is

Answer 1

hєч mαtє✌✌
hєrє íѕ ur αnѕwєr ✍✍

●INTEREST = Interest is the price paid by a borrower for the use of a lender's money.

TYPE OF INTEREST----- there are 2 type of interest--
●Simple Interest
●Compound Interest

♥Simple Interest = Simple interest is the computed on the principal for the entire period of borrowing.
Formula -----
I = Pit
A = P + I
I = A - P

here
I = Amount of Interest
P = principal ( initial value of an investment)
A = Accumulated amount ( Final value of an investment)
i = Annual interest rate in decimal
t = time in years

♥Compound Interest = compound interest as the interest that accrues when earnings for each specified period of time added to the principal thus increasing the principal base on which subsequent interest is compound.

Formula -
A = p (1 + i)^n
where,
i = Annual rate of interest
n = Number of conversion period per year
INTEREST = An - P
or
= P ( 1 + i)^n - P

Let, move to ur Question -----

ɢɪᴠᴇɴ -----
ᴩ = ₹500
ʀ = 6%
No of days = 73

we know that ---

$si \: = prt \div 100$
SI = 500 × 6 × 73 /100 × 365
( when days are given we have to multiply days /365 )
SI = 219000/36500
SI = ₹6

ʜᴏᴩᴇ ɪᴛ ʜᴇʟᴩꜱ ᴜ☺☺
ꜰᴇᴇʟ ꜰʀᴇᴇ ᴛᴏ ᴀꜱᴋ ᴀɴy qᴜᴇʀy❤❤

Answer 2

We are provided the following information:

Principal, P = ₹ 500

Rate of Interest, R = 6 % p.a.

Time, T = 73 days = 0.2 year

We know that simple interest on a sum of money is the result we get when we divide the product of principal, rate and time by 100.

Simple Interest, SI = ( P * R * T )  / 100

SI = ( 500 * 6 * 0.2 ) / 100

SI = 600 / 100

SI = ₹ 6

Hence,

Simple Interest = SI = ₹ 6

Amount = Principal + Simple Interest = ₹ 500 + ₹ 6 = ₹ 506