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Question
On what date will ₹ 1950 lent on 5th January 2011 amount to ₹ 2125.50 at 5 percent per annum simple interest?
Solution
P = Rs.1950
A = Rs.2125.50
R = 5% P.a.
I = A − P
= Rs.2125.50 − Rs,1950
= Rs.175.50
T =`(100xx"I")/("P"xx"R")`
`=(100xx175.50)/(1950xx5)`
`=17550/9750=1755/975=117/65`
`=9/5` years =`1 4/5` years
= 1 years 292 days
∵ `4/5` years
`=4/5xx365` 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
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