The sum of money that will give Rs 1 as interest per day at the rate of 10% per annum simple interest is:
Answer & explanation
Correct answer: option 3
SI of 1 year = 365
SI = \(\frac{PRT}{100}\) ⇒ 365 = \(\frac{P × 10 × 1}{100}\) ⇒ P = 3650
The sum of money that will give Rs 1 as interest per day at the rate of 10% per annum simple interest is:
Correct answer: option 3
SI of 1 year = 365
SI = \(\frac{PRT}{100}\) ⇒ 365 = \(\frac{P × 10 × 1}{100}\) ⇒ P = 3650