simple interest 2

Normal in all problems they will ask time period as years. But in some problems they will give time period as number of days, then you need to calculate the number of of days in given period. The following table shows the number of days in a given year for various months.

Months	Jan	Feb	Mar	Apr	May	June	July	Aug	Sept	Oct	Nov	Dec
No. of days	31	28/29	31	30	31	30	31	31	30	31	30	31

Points to remember

1.       If the time period of time includes february month, then we have to observe whether the given year is leap year (or) not.

                    Leap year – february month --------------> 29days

             Non leap year - february month ---------------->28days

2.       If you are taken a loan today and you are cleared a loan tomorrow. Then

                           Counting the no of days = 2days

                            Duration of days  =  1

          So interest is calculated in duration of days/years.

        So when you are counting the no. of days you need to exclude starting day and calculate 

      The no. of days will give you time period.   

                   

                 To convert no of days into years you need to divide by 365. This will convert into no. of year. The following table shows the conversion of no. of days into years.

                              

73/365 = 1/5

146/365 = 2/5

219/365 = 3/5

292/365 = 4/5

365/365 = 5/5