Question

Find the interest and the amount, respectively on :
Rs.$5,000$ at $8\%$ per year from ${23}^{rd}$ December $2003$ to ${29}^{th}$ July $2004$.

• A. Rs. $240$ and Rs. $5,640$
• B. Rs. $170$ and Rs. $4,970$
• C. Rs. $170$ and Rs. $5,270$
• D. Rs. $240$ and Rs. $5,240$

Answer 1

The correct option is D Rs. $240$ and Rs. $5,240$

Here $P=$ Rs. $5000,R=8\%p.a.$ and

$T=\frac{9+31+28+31+30+31+30+29}{365}=\frac{219}{365}$ years $=\frac{3}{5}$ years

We know $S.I.=\frac{P\times R\times T}{100}$

$\Rightarrow S.I.=\frac{5000\times 8\times 3}{5\times 100}$

$\Rightarrow$ $S.I.=$ Rs. $240.$

$\Rightarrow$ $A=P+S.I.=$ Rs. $5000$ $+$ Rs. $240=$ Rs. $5240.$

Therefore, interest is Rs. $240$ and Amount is Rs. $5,240$.