Question

What will be the simple interest on Rs 4000 at 12% per annum for the period from 4th February 2005 to 18th April 2005?​

Answer 1

Answer:

One thing which is tricky in this question is to calculate the number of days.

Always remember that the day on which money is deposited is not counted while the day on which money is withdrawn is counted.  

So lets calculate the number of days now,

Time = (24+31+18) days = 73/365 years = 1/5 years

P = 2000

R = 25/4%

S.I. = =2000×254×5×100=25

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