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Question

What will be the simple interest on a sum of Rs 1820 from March 11, 2003 to May 23, 2003 at 7.5% rate?


A

Rs 37.70

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B

Rs 42.50

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C

Rs 27.30

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D

Rs 15.20

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Solution

The correct option is C

Rs 27.30


Time = (20 + 30 + 23) days

= 73 days

=73365

=15 year

Interest = (P×R×T)100

S.I. = 1820× 152 ×15 × 1100

= Rs 27.30

Hence, the simple interest is Rs 27.30.


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