# The interest on ₹350 at 5% per annum for 73 days is ₹35. State whether the statement is true or false

**Solution:**

Given, the interest on ₹350 at 5% per annum for 73 days is ₹35.

We have to determine if the given statement is true or false.

According to the question,

P = ₹350

R = 5%

T = 73 days

We know, 1 year = 365 days

So, T = 73/365 year

Interest = P × R × T/100

I = 350 × 5 × 73/100 × 365

= 350 × 73/20 × 365

= 35 × 73/2 × 365

= 35/2 × 5

= 35/10

= 3.5

Therefore, the interest is ₹3.5

**✦ Try This: **The interest on ₹200 at 5% per annum for 90 days is ₹10. State whether the statement is true or false.

**☛ Also Check: **NCERT Solutions for Class 7 Maths Chapter 8

**NCERT Exemplar Class 7 Maths Chapter 7 Problem 63**

## The interest on ₹350 at 5% per annum for 73 days is ₹35. State whether the statement is true or false

**Summary:**

The given statement,”The interest on ₹350 at 5% per annum for 73 days is ₹35” is false.

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