The simple interest on Rs.500 at 6% per annum from May 3rd to July 15th in the same year is_________?
Correct answer: B. Rs.6
- A. Rs.8
- B. Rs.6
- C. Rs.4
- D. Rs.9
Explanation
Using the ordinary convention of excluding the starting date, the period from May 3 to July 15 is 28 days of May, 30 days of June, and 15 days of July, for 73 days. SI = Rs. 500 x 6/100 x 73/365 = Rs. 6. Option a, Rs. 8, commonly comes from counting the days incorrectly or using a wrong year fraction.
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Percentages express a quantity as parts per hundred and support calculations involving increases, decreases, discounts, commissions, taxes, and successive changes. Questions require distinguishing percentage change from percentage points and identifying the original value when a final value and its percentage change are given.
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