Question

The simple interest on rs. 5250 from 1st february,2013 to april 14,2013 at 15/2 % rate will be

Answer 1

Answer:

Step-by-step explanation:

Principal amount, P = Rs. 5250;

Rate of interest, R = 15/2% = 7.5%;

duration = 1 Feb. 2013 to 14 april 2013 ;

2013 is not a leap year so there are 28 days in Feb.

Duration = 28 (Feb) + 31 (March)+14 (april)= 73 days;

Simple interest = PRT/100

T = 1 (yearly rate considering);

Simple interest  = 5250*7.5*1/100 =  393.75;

This is the Simple interest for the whole year ;

But we have to calculate interest for  73 days only ;

Interest for 73 days = (393.75/365)*73 = 78.75

here 365 is total no. of days in year 2013