The sum of money, that will give 1 Rs. as interest per day at the rate of 5% per annum simple interest is :
The sum of money, that will give 1 rupee as interest per day at the rate of 5% per annum simple interest is :
[A]730 Rs.
[B]3650 Rs.
[C]7300 Rs.
[D]36500 Rs.
7300 Rs.
The sum of money will give 365 Rs. as simple interest in a year.
$latex => S.I. = \frac{PRT}{100}&s=1$
$latex => 365 = \frac{P\times 5\times 1}{100}&s=1$
$latex => P = \frac{365\times 100}{5} = 7300 Rs.&s=1$
Hence option [C] is correct answer.
