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Find the simple interest on Rs. 1,000 at 5 p.c.p.a. for 292 days.
Given:
Principal $=Rs.\ 1000$
Rate of interest $=5$ p.c.p.a.
Time $=292$ days
To do:
We have to find the simple interest.
Solution:
Time $=\frac{292}{365}$ years [1 year $=$ 365 days]
We know that,
S.I $=\frac{PRT}{100}$
$=\frac{1000\times5\times\frac{292}{365}}{100}$
$=\frac{10\times5\times292}{365}$
$=\frac{14600}{365}$
$=40$
The simple interest is Rs. 40.
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