what is the simple interest on 10,000 from 1 july 2000 to 30 sep 2020 at 20%
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Answer:
Given that,
Principal=₹10,000
rate%=20%
time= 1 July to 30 September
As we know,
July has 31 days
August has 31 days
September has 30 days
Hence,Total days= 31+31+30 days
=92days
time=92/365 days
As we know,
Simple Interest=Principal×Rate×Time/100
=₹10,000×20×92/100×365
=₹504.109
Hence, Simple Interest is ₹504.109
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