1.  Find the simple interest on ₹ 3000 at 6% per annum for the period from 4th Feb., 2017 to 18th April, 2017.
A. ₹ 47.50
B. ₹ 37.50
C. ₹ 27.50
D. None of these

Answer: Option B

Explanation:

Time = (24 + 31 + 18) days = 73 days

= 73 / 365 year = 1/ 5 year.

P = ₹ 3000 and R = 6% p.a = 25/4 % p.a.

S.I. = ₹ 3000 x 25/4 x 1/5 x 1/100 = ₹ 37.50

Remark : The day on which money is deposited is not counted while the day on which money is withdrawn is counted.