Find the simple interest on Rs. 1098 at 5% per annum from 5 May 1996 to 25 May 1996.

Options

A. Rs. 5
B. Rs. 7
C. Rs. 3
D. Rs. 4

Explanation

To find the simple interest on Rs. 1098 at 5% per annum from 5 May 1996 to 25 May 1996, we will follow these steps:

### Step 1: Identify the given values
- Principal (P) = Rs. 1098
- Rate of interest (R) = 5% per annum
- Time (T) = from 5 May 1996 to 25 May 1996

### Step 2: Calculate the time period in days
- The time period from 5 May to 25 May is 20 days.

### Step 3: Convert the time period from days to years
- Since the interest rate is per annum, we need to convert days into years.
- There are 366 days in a leap year (1996 is a leap year).
- Therefore, T in years = 20 days / 366 days = 20/366 years.

### Step 4: Use the Simple Interest formula
The formula for Simple Interest (SI) is:
\[ \text{SI} = \frac{P \times R \times T}{100} \]

### Step 5: Substitute the values into the formula
- P = 1098
- R = 5
- T = 20/366

Now substituting these values:
\[ \text{SI} = \frac{1098 \times 5 \times \frac{20}{366}}{100} \]

### Step 6: Simplify the calculation
1. First, calculate \( 1098 \times 5 = 5490 \).
2. Then, calculate \( 5490 \times \frac{20}{366} = \frac{5490 \times 20}{366} = \frac{109800}{366} \).
3. Now divide \( 109800 \) by \( 366 \):
- \( 109800 ÷ 366 \approx 300.81 \).
4. Finally, divide by 100:
- \( 300.81 ÷ 100 = 3.0081 \).

### Step 7: Round off the result
- The simple interest is approximately Rs. 3.01 (rounding to two decimal places).

### Final Answer
The simple interest on Rs. 1098 at 5% per annum from 5 May 1996 to 25 May 1996 is approximately Rs. 3.01.

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