Fatima keeps ₹36,500 in a deposit that pays 10% per annum simple interest. She withdraws it after 73 days. What interest does she earn? (Take 1 year = 365 days.)

Explanation

1. 01

   73 days = $\frac{73}{365} = \frac{1}{5}$ year.

2. 02

   Interest for one year = 10% of ₹36,500 = ₹3,650.

3. 03

   Interest for $\frac{1}{5}$ year = $\frac{3650}{5}$ = ₹730.