Q.At a 5% interest rate, how much money should be lent to receive 1 rupee as interest per day? (a) ₹ 7300 (b) ₹ 3650 (c) ₹ 1825 (d) ₹10950
Answer: A
Time \((t) = \cfrac{1}{365}\) years
Interest rate \((r) = 5 \%\)
Interest amount \((I) = 1\) rupee

Principal \((p) = \cfrac{100\times I}{tr}\)
\(=\cfrac{100\times 1}{\cfrac{1}{\cancel{365}73}\times \cancel5}\) rupees
\(=7300\) rupees
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