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### Question

What is the interest on Rs. 12500 @2% for 73 days starting from Jan 1, 3201?

**A**

Rs. 50.

**B**

Rs. 150.

**C**

Rs. 100.

**D**

Rs. 250.

**Soln.**

**Ans: a**

The given year is not a leap year. So it has 365 days. Since 73 X 5 = 365, t = 1/5 year. We have r = 2%, t = 1/5, P = 12500, so I = ${12500 × 2 × 1}/{5 × 100}$ = Rs. 50.