Question

On what date will ₹1950 lent on 5th January, 2011 amount to ₹2125.50 at 5 percent per annum simple interest?

Answer 1

SI=A-P=Rs.2125.50-Rs.1950
=Rs.175.50
R=5%
T=100*SI/(R*P)=100*175.50/(5*1950)
or, T=1.8 years.
=1 year +0.8 years.
=1 year + 8/10*365 days
=1 year and 292 days.
The required date will be 1 year and 292 days later 5th Jan 2011.
The next year is 2012 .
Note that the number of days (in total) is 365+292=657 but here we will take 658 days into account since a leap year has 1 extra day.
The required date=(30-5)+31+31+30+31+30+31+31+29+31+30+31+30+31+31+30+31+30+31+31+28+(31-7) By trial and error method is 24th March 2013.