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Question
The interest on ₹ 350 at 5% per annum for 73 days is ₹ 35.
Options
True
False
Solution
This statement is False.
Explanation:
Given, P = ₹ 350, R = 5%
and T = 73 days = `73/365` yr
∴ I = `(P xx R xx T)/100`
I = `(350 xx 5 xx 73)/(100 xx 365) = 127750/36500`
I = ₹ 3.5
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