Question

what is the simple interest on 10,000 from 1 july 2000 to 30 sep 2020 at 20%p.a.​

Answer 1

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