The simple interest on ₹ 500 at 6 % per annum | vedclass

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Question

(B) To calculate the simple interest,we first determine the time period in years.Time from $May$ $3^{rd}$ to $July$ $15^{th}$:$May$ remaining days: $3

Vedclass · Accepted Answer

$6$

Vedclass · Answer

(B) To calculate the simple interest,we first determine the time period in years.Time from $May$ $3^{rd}$ to $July$ $15^{th}$:$May$ remaining days: $31 - 3 = 28$ days.$June$ days: $30$ days.$July$ days: $15$ days.Total days = $28 + 30 + 15 = 73$ days.Convert days into years: $T = \frac{73}{365} = \frac{1}{5}$ years.Given: Principal $(P)$ = ₹ $500$,Rate $(R)$ = $6 \%$ per annum.Simple Interest $(I)$ = $\frac{P 	imes R 	imes T}{100}$.$I = \frac{500 	imes 6 	imes (1/5)}{100} = \frac{500 	imes 6}{100 	imes 5} = \frac{3000}{500} = ₹ 6$.Thus,the correct option is $B$.

The simple interest on ₹ $500$ at $6 \%$ per annum from $May$ $3^{rd}$ to $July$ $15^{th}$ in the same year is (in ₹):

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