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### Question

The interest on Rs. 1000 @7% for a certain number of days starting from Jan 1, 2001 is Rs. 14. How many days?

**A**

73 days.

**B**

74 days.

**C**

72 days.

**D**

75 days.

**Soln.**

**Ans: a**

We have r = 7%, P = 1000, I = 14, so t = ${100 × 14}/{1000 × 7}$. We get t = 1/5. The given year is not a leap year. So it has 365 days. Since 365/5 = 73, the number of days is 73.