Find the simple interest (in ₹) on ₹4,000 at 6% per annum rate of interest for the period from 20 February 2024 to 21 April 2024.
40
To calculate the simple interest, we use the formula:
I = \frac{P \times R \times T}{100}
where:
- P is the principal amount (₹4,000)
- R is the rate of interest per annum (6%)
- T is the time period in years
First, we need to calculate the time period from 20 February 2024 to 21 April 2024.
- From 20 February 2024 to 29 February 2024 = 9 days (2024 is a leap year, so February has 29 days)
- March 2024 = 31 days
- From 1 April 2024 to 21 April 2024 = 21 days
Total number of days = 9 + 31 + 21 = 61 days
Convert the days into years:
T = \frac{61}{366} because 2024 is a leap year (366 days).
Now substitute the values into the simple interest formula:
I = \frac{4000 \times 6 \times \frac{61}{366}}{100}
Calculate step by step:
I = \frac{4000 \times 6 \times 61}{36600}
I = \frac{1464000}{36600}
I = 40
Thus, the simple interest for the given time period is ₹40.
Therefore, the correct answer is ₹40.
Similar Questions
The amount on a sum of ₹7,500 at 6% per annum compound interest, compounded annually, in 2 years will be:
The amount on a sum of ₹1,500 at 10% per annum compound interest, compounded annually, in 2 years will be:
Important Questions from Compound Interest
A person borrowed Rs. 10000 on compound interest at the rate of 40 percent per annum. If the interest is compounded half yearly, then what will be the amount to be paid after 1.5 years?
The difference between the compound interest (compounding annually) and the simple interest on a sum of money at the rate of 40 per cent per annum for 2 years is Rs. 2400. What is the amount?
In how many years will a sum of Rs.1875 amount to Rs.2187 at 8 percent p.a. compound interest?
A sum of money has increased by 45% in 9 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate?
At a certain rate of compound interest a certain sum amounts to Rs. 64800 in 4 years and Rs. 93312 in 6 years. What is the compound interest earned in fifth year?
