Q2 of 32 Page 46

Let us determine the interest of ₹2000 at the rate if simple interest of 6% per annum from 1st January to 26th May, 2005.

Time = January 31 days + February 28 days + March 31 days + April 30 days + May 25 days


= 145 Days



In mathematical language the problem is



So, the interest of Rs. 100 in 1 yr is Rs. 6


⇒ The interest of Rs. 1 in 1 yr is Rs.


⇒ The interest of Rs. 2000 in 1 yr is



= Rs. 120


⇒ The interest of Rs. 2,000 in yr is



= Rs. 267.7


The total interest paid by them = Rs. 267.7


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