What sum of money borrowed on 24th May will amount to Rs. 10,210.20 on 17th October of the same year at 5% per annum simple interests ?
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Answer:
The number of days from 24 May to 17 October is,
7+30+31+31+30+17=146days
The total time becomes
365
146
.
The rate is given as 5% per annum.
S=
100
P×R×T
10210.20=
365×100
P×5×146
5×146
10210.20×365×100
=P
P=Rs510510
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