What sum of money borrowed on 1“ May will amount to 2 55,440 on 23rd September of the same year at 5%
p.a simple interest?
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Days between 1 may to 23 September
= 145 days
Time of year taken = 145/365=29/73
Rate=5% p.a.
Let the Principal be p
SI = Amount-P = 2,55,440-P
SI = PRT/100
Hope it helps you
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