a) Rs. 13
b) Rs. 12.60
c) Rs. 11.30
d) Rs. 15
Answer: b
Explanation:
$$\eqalign{
& {\text{Here,}}\,{\text{time}}\,{\text{interval}}\,{\text{is}}\,{\text{given}}\,{\text{as}}\, \cr
& {\text{February}}\,5,\,1994\,{\text{to}}\,{\text{April}}\,18,\,1994 \cr
& = 73\,{\text{days}} = \frac{{73}}{{365}} = 0.2\,{\text{years}}. \cr
& {\text{Now}}\,{\text{interest}} = \frac{{PTR}}{{100}} \cr
& = \frac{{ {700 \times 9 \times 0.2} }}{{100}} \cr
& = Rs.\,12.60 \cr} $$
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