Find the simple interest (in ₹) on ₹2,000 at 7% per annum rate

Solution

Principal $P=₹2000$
Rate $R=7\%$ per annum

First find the time period from 5 February 2023 to 19 April 2023.

February: $23$ days (from 6 Feb to 28 Feb)
March: $31$ days
April: $19$ days

Total days $=23+31+19=73$ days

Time in years
$T = \frac{73}{365}$

Simple Interest formula:

$SI = \frac{P \times R \times T}{100}$

Substitute the values:

$SI = \frac{2000 \times 7 \times 73}{100 \times 365}$

$SI = 28$

Simple Interest = ₹28