Question

On what date will ₹ 1950 lent on 5th January, 2011 amount to ₹ 2125.50 at 5 percent per annum simple interest?

Answer 1

P = Rs. 1950  

A = Rs. 2125.50  

R = 5%  

I = A – P  

= Rs. 2125.50 – Rs. 1950

= Rs. 175.50  

T = (100 × I)/(P × R) 

= (100 × 175.50)/(1950 × 5) 

= 17550/9750 

= 1755/975 

= 117/65  

= (9/5) years 

= (1. 4/5) years  

= 1 years 292 days  

∵ (4/5) years   

= 4/5 × 365 days = 292 days  

Jan. + Feb. + March. + April + May + June + July + Aug. + Sept. + Oct.  

(31 – 5) + 29 + 31 + 30 + 31 + 30 +31 + 31 + 30 + 23 = 292 days  

∴ Required date = 23rd October 2012