Find the simple interest on Rs. 1,000 at 5 p.c.p.a. for 292 days.

Given:

Principal $=Rs.\ 1000$

Rate of interest $=5$ p.c.p.a.

Time $=292$ days

To do:

We have to find the simple interest.

Solution:

Time $=\frac{292}{365}$ years                        [1 year $=$ 365 days]
We know that,

S.I $=\frac{PRT}{100}$

$=\frac{1000\times5\times\frac{292}{365}}{100}$

$=\frac{10\times5\times292}{365}$

$=\frac{14600}{365}$

$=40$

The simple interest is Rs. 40.

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Updated on: 10-Oct-2022

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