Question

Yow much would Rs.36525 amount to if it was invested at 23/3% p.a.from 15 October 2007 to 9 march 2008 ?​

Answer 1

The amount after interest is Rs. 37649.69.

Step-by-step explanation:

Given information:

Principal = Rs.36525

Rate of interest = 23/3% p.a.

Time = From 15 October 2007 to 9 march 2008.

Days from 15 October 2007 to 9 march 2008 is

Days = 17 + 30 + 31 + 31 +29 + 9 = 147

Formula for interest is

$Interest = P\times r\times t$

where, P is principle, r is rate of interest in decimal and t is time.

$Interest = 36525\times (\frac{23}{300})\times \frac{147}{366}$

$Interest \approx 1124.69$

Amount after interest is

$Amount=Principal+Interest$

$Amount=36525+1124.69$

$Amount=37649.69$

Therefore, the amount after interest is Rs. 37649.69.

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Answer 2

Step-by-step explanation:

Given information:

Principal = Rs.36525

Rate of interest = 23/3% p.a.

Time = From 15 October 2007 to 9 march 2008.

Days from 15 October 2007 to 9 march 2008 is

Days = 17 + 30 + 31 + 31 +29 + 9 = 147

Formula for interest is

Interest = P\times r\times tInterest=P×r×t

where, P is principle, r is rate of interest in decimal and t is time.

Interest = 36525\times (\frac{23}{300})\times \frac{147}{366}Interest=36525×(

300

23

)×

366

147

Interest \approx 1124.69Interest≈1124.69

Amount after interest is

Amount=Principal+InterestAmount=Principal+Interest

Amount=36525+1124.69Amount=36525+1124.69

Amount=37649.69Amount=37649.69

Therefore, the amount after interest is Rs. 37649.69