Find the SI on ₹8500 from 12th October in 1999to 6th March 2000 at 15 percent per annum

SI = simple interest maybe ???

What is SI ?

To find the Simple Interest (SI) on ₹8500 from 12th October 1999 to 6th March 2000 at 15 percent per annum, you need to follow these steps:

Step 1: Calculate the time period
First, calculate the time in years between 12th October 1999 and 6th March 2000.

12th October 1999 to 12th October 2000 = 1 year
12th October 2000 to 6th March 2000 = 0.4167 years (approximately)

The total time period is 1 + 0.4167 = 1.4167 years (approximately).

Step 2: Calculate the Simple Interest
To calculate the Simple Interest, use the following formula:
SI = (Principal × Rate × Time) ÷ 100

Principal = ₹8500
Rate = 15 percent per annum
Time = 1.4167 years (approximately)

SI = (₹8500 × 15 × 1.4167) ÷ 100

SI = ₹1912.75 (approximately)

Therefore, the Simple Interest on ₹8500 from 12th October 1999 to 6th March 2000 at 15 percent per annum is approximately ₹1912.75.

T = (31-12) + 30 + 31 + 31 + 28 + 6 = 145 Days.

I = P*r*T = 8500 * (0.15/365) * 145 =