The simple interest on Rs.7,300 from 11 May, 1987 to 10 September, 1987 (both da

Question

The simple interest on Rs.7,300 from 11 May, 1987 to 10 September, 1987 (both days included) at 5% per annum is

Options:

A . Rs.103

B . Rs.123

C . Rs.223

D . Rs.200

Answer: Option B
Answer: (b)Using Rule 1,Time from 11 May to 10 September, 1987= 21 + 30 + 31 + 31 + 10= 123 daysTime = 123 days = $123/365$ yearS.I. = ${7300 × 123 × 5}/{365 × 100}$ = Rs.123

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