Q.At an annual simple interest rate of \(3\frac{1}{2}\%\), what is the simple interest on ₹750 for 73 days? (a) ₹ 5.25 (b) ₹ 5.75 (c) ₹ 6 (d) None of the above
Answer: A
Principal \((P) = ₹750\) Time \((T) = \frac{73}{365}\) years = \(\frac{1}{5}\) year Rate of interest \((R) = 3\frac{1}{2}\% = \frac{7}{2}\%\) \[ \therefore \text{Total Simple Interest} = \frac{750 \times \frac{1}{5} \times \frac{7}{2}}{100} \text{ rupees} = \frac{750 \times 1 \times 7}{100 \times 5 \times 2} \text{ rupees} = ₹5.25 \]
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