Question

Find the simple interest and the amount when:
Principal is $Rs.5000$, Rate is $9\%$ p.a. and Time is $146$ days.

Answer 1

Given:

$P=Rs.5000$

$R=9\%$ per annum

$T=146$ days

$=\frac{146}{365}$ year [$\because 1$ year $=365$ days]

Now,

Simple interest $(S.I)=\frac{P\times R\times T}{100}$

$\Rightarrow (S.I)=\frac{Rs.5000\times 9\times 146}{365\times 100}$

$\Rightarrow (S.I)=Rs.180$

Amount $=P+S.I$

$=Rs.5000+Rs.180$

$=Rs.5180$

Therefore, Simple interest is $Rs.180$ and Amount is $Rs.5180$.