Question

Find the simple interest, when:
Principal $$= Rs. 1000$$, Rate of Interest $$= 10\%$$ per annum and Time $$= 73$$ days.

Answer 1

Correct option is A. $$Rs. 20$$
$$\textbf{Given:}$$

Principal $$= Rs. 1000$$

Rate $$= 10\%$$ p.a.

Time $$= 73$$ days

Here; $$365$$ days $$= 1$$ year

$$1$$ day $$= \dfrac{1}{365}$$ year

$$73$$ days $$= \dfrac{73}{365}$$ year

$$=\dfrac{1}{5}$$ year

So, simple interest $$= \dfrac{P \times R \times T}{100}$$

$$= Rs.\dfrac{1000 \times 10 \times \dfrac{1}{5}}{100}$$

$$= Rs. 20$$

$$\boxed{\text{Hence, simple interest is Rs. 20}}$$