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Find the simple interest on Rs.1600 from March 3 rd to July 27th at 3 3/4% per annum?
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Find the simple interest on Rs.1600 from March 3 rd to July 27th at 3 ...
Understanding Simple Interest Calculation
To find the simple interest on Rs.1600 from March 3rd to July 27th at a rate of 3 3/4% per annum, we need to follow a few steps.
Step 1: Identify the Time Period
- From March 3rd to March 31st: 28 days (March has 31 days)
- From April: 30 days
- From May: 31 days
- From June: 30 days
- From July 1st to July 27th: 27 days
Total Days Calculation:
- Total Days = 28 + 30 + 31 + 30 + 27 = 146 days
Step 2: Convert the Time Period into Years
- Since interest rates are per annum, convert days into years:
- Total Years = 146 / 365 = 0.4 years (approximately)
Step 3: Calculate the Simple Interest
- Formula for Simple Interest:
Simple Interest = Principal × Rate × Time
- Here:
Principal = Rs.1600
Rate = 3.75% per annum = 3.75 / 100 = 0.0375
Time = 0.4 years
- Calculating Simple Interest:
Simple Interest = 1600 × 0.0375 × 0.4
Simple Interest = 24
Step 4: Final Result
- The simple interest on Rs.1600 from March 3rd to July 27th at a rate of 3 3/4% per annum is Rs.24.
This calculation provides a clear understanding of how to compute simple interest over a specified period.
To find the simple interest on Rs.1600 from March 3rd to July 27th at a rate of 3 3/4% per annum, we need to follow a few steps.
Step 1: Identify the Time Period
- From March 3rd to March 31st: 28 days (March has 31 days)
- From April: 30 days
- From May: 31 days
- From June: 30 days
- From July 1st to July 27th: 27 days
Total Days Calculation:
- Total Days = 28 + 30 + 31 + 30 + 27 = 146 days
Step 2: Convert the Time Period into Years
- Since interest rates are per annum, convert days into years:
- Total Years = 146 / 365 = 0.4 years (approximately)
Step 3: Calculate the Simple Interest
- Formula for Simple Interest:
Simple Interest = Principal × Rate × Time
- Here:
Principal = Rs.1600
Rate = 3.75% per annum = 3.75 / 100 = 0.0375
Time = 0.4 years
- Calculating Simple Interest:
Simple Interest = 1600 × 0.0375 × 0.4
Simple Interest = 24
Step 4: Final Result
- The simple interest on Rs.1600 from March 3rd to July 27th at a rate of 3 3/4% per annum is Rs.24.
This calculation provides a clear understanding of how to compute simple interest over a specified period.
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Find the simple interest on Rs.1600 from March 3 rd to July 27th at 3 3/4% per annum?
Question Description
Find the simple interest on Rs.1600 from March 3 rd to July 27th at 3 3/4% per annum? for SSC CHSL 2025 is part of SSC CHSL preparation. The Question and answers have been prepared according to the SSC CHSL exam syllabus. Information about Find the simple interest on Rs.1600 from March 3 rd to July 27th at 3 3/4% per annum? covers all topics & solutions for SSC CHSL 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find the simple interest on Rs.1600 from March 3 rd to July 27th at 3 3/4% per annum?.
Find the simple interest on Rs.1600 from March 3 rd to July 27th at 3 3/4% per annum? for SSC CHSL 2025 is part of SSC CHSL preparation. The Question and answers have been prepared according to the SSC CHSL exam syllabus. Information about Find the simple interest on Rs.1600 from March 3 rd to July 27th at 3 3/4% per annum? covers all topics & solutions for SSC CHSL 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find the simple interest on Rs.1600 from March 3 rd to July 27th at 3 3/4% per annum?.
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