Question

A person invested Rs. 1175 at the rate of 5% per annum at simple interest from 02 December 2024 to 12 February 2025. Find the interest earned by that person(Both dates inclusive).

• A. Rs. 12.75
• B. Rs. 10.75
• C. Rs. 9.75
• D. Rs. 11.75

Answer 1

Answer:

D. Rs. 11.75

Solution:

Given:

A person invested = Rs. 1175

Rate = 5% per annum

Time duration: 02 December 2024 to 12 February 2025

Formula used:

$SI=\frac{PNR}{100}$

Where, 

P = Principal 

R = Rate of interest

T = Time 

Calculation:

Time duration: 02 December 2024 to 12 February 2025

Total number of days = 30 + 31 + 12 = 73 days

According to the question,

$SI=\frac{1175\times{5}{73}}{100\times{365}}$

⇒ S.I = Rs. 11.75

Therefore, 'Rs. 11.75' is the required answer.