What will be the simple interest on ₹ 4000 at 12 1/ 2% per annum for the period from 4th February, 2005 to 18th April, 2005?
Correct Answer: ₹ 100
Explanation:
Here, P = ₹ 4000, R = 121/2% = 25 / 2%
T = (24 + 31 + 18) days = 73 days
= 73/365 yr = 1/5 yr
∴ SI = (P x R x T)/100 = (4000 x 25/2 x 1/5 )/100
= ₹ 100
