Question

What will RS 5000 amount to at 8 % p.a. for period from April 6, 2017 to June 18, 2017?

Answer 1

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Here is your answer

P = Rs 5000
R = 8% p.a
T = 73 days. = 73/365 year

= 1/5 years

As we know the formula

SI = PRT/100
$= \frac{5000 \times 8 \times 1}{100 \times 5} \\ = 80$
Amount = P + SI
$= 5000 + 80 \\ = 5080$
So Amount is Rs 5080

Hope it helps you

Answer 2

The value of amount for this period is Rs.5080.

Given:-

Principal = Rs.5000

Rate = 8%

Time period = April 6, 2017 to June 18, 2017?

To Find:-

The value of amount for this period.

Solution:-

We can easily calculate the value of amount for this period by using these simple steps.

As

Principal (p) = Rs.5000

Rate (r) = 8%

Time period (t) = April 6, 2017 to June 18, 2017

Simple interest (si) =?

Here, time is given in days so first we have to find the total number of days from April 6, 2017 to June 18, 2017.

So, total number of days = 73days

Also, we have to convert these days into year by dividing it by 365 as the time required for calculating simple interest must be in years.

Total time (t) = 73/365 years

Now, According to the formula of simple interest,

$simple \: interest = \frac{principal \times rate \times time}{100}$

$si = \frac{p \times r \times t}{100}$

on putting the values,

$si = \frac{5000 \times 8 \times 73}{365 \times 100}$

$si = \frac{50 \times 8 \times 73}{365}$

$si = \frac{400 \times 73}{365}$

$si = \frac{400 \times 1}{5}$

$si = \frac{400}{5}$

$si = 80$

Now, the amount = Principal + Simple Interest

A = 5000 + 80

A = Rs.5080

Hence, The value of amount for this period is Rs.5080.

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