What will be the simple interest on rupees 500 at 6% per annum from May 3rd 2014 to july 15th 2014
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Answer:
The correct option is B Rs 6
Time from May 3rd to July 15th
=28 days of May +30 days of June and 15 days of July
=73 days =73365 years, i.e., 15 years
∴I=P×R×T100=500×6×15100=Rs 6
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