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Question
What is the sum due of ₹5,000, due 4 months, hence at 12.5% p.a. simple interest?
Solution
P.W. = ₹5,000
`n = 4/12` years, r = 12.5%
S.D. = P.W.`[1 + (n × r)/100]`
= `5000[1 + (4/12 xx 12.5)/100]`
= `5000[1 + 1/24]`
= `5000[25/24]`
∴ S.D. = ₹5208.33
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