Find the simple interest on Rs 3000 at 25 4 per annum for the period from 4th Feb 2005 to 18th ...........

Quant (SSC) Simple Interest

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Find the simple interest on Rs 3000 at 25/4% per annum for the period from 4th Feb, 2005 to 18th April, 2005.

Rs 45.70

Rs 34.65

Rs 38.50

Rs 37.50

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Explanation:

Time = (24 + 31 + 18) days = 73 days
= 73 /365 yrs = 1/5 yrs
P = Rs. 3000 and R = 25/4% p.a.
So, S.I = (P × R × T /100)
= Rs (3000 x 25/4 x 1/5 x 1/100) = 37.50.
Remark: The day on which money is deposited is not counted while the day on which money is withdrawn is counted.