Find the simple interest on Rs. 3000 at 10% per annum from January 1, 2007 to March 15, 2007 (in Rs.)

Options

A. 60
B. 120
C. 90
D. 180

Explanation

To find the simple interest on Rs. 3000 at a rate of 10% per annum from January 1, 2007, to March 15, 2007, we can follow these steps:

### Step 1: Identify the Principal Amount, Rate of Interest, and Time Period
- **Principal (P)** = Rs. 3000
- **Rate of Interest (R)** = 10% per annum
- **Time Period (T)** = From January 1, 2007, to March 15, 2007

### Step 2: Calculate the Time Period in Days
- From January 1 to March 15, we need to count the total number of days.
- January has 31 days.
- February has 28 days (2007 is not a leap year).
- From March 1 to March 15, there are 15 days.

Total days = 31 (January) + 28 (February) + 15 (March) = 74 days

### Step 3: Convert the Time Period into Years
- Since the interest rate is per annum, we need to convert days into years.
- **Time in years (T)** = Total days / 365 = 74 / 365 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
- Substitute P = 3000, R = 10, and T = 74/365 into the formula:
\[ \text{SI} = \frac{3000 \times 10 \times \frac{74}{365}}{100} \]

### Step 6: Simplify the Calculation
1. Calculate the numerator:
- \( 3000 \times 10 = 30000 \)
- \( 30000 \times 74 = 2220000 \)

2. Now divide by 100:
- \( \frac{2220000}{100} = 22200 \)

3. Finally, divide by 365:
- \( \frac{22200}{365} \approx 60.82 \)

### Step 7: Round Off the Result
Since we are dealing with currency, we can round it off to the nearest whole number:
- Simple Interest = Rs. 61 (approximately)

### Final Answer
The simple interest on Rs. 3000 at 10% per annum from January 1, 2007, to March 15, 2007, is approximately Rs. 61.

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