Final answer:
The simple interest on Rs 500 at 6% per annum for the period from May 3rd to July 15th is calculated by first finding the number of days in that period, converting that into years, and then applying the simple interest formula. The interest comes to approximately Rs 6.08, which is closest to option B, Rs 6.
Step-by-step explanation:
The student's question asks for the simple interest on Rs 500 at 6% per annum for the period from May 3rd to July 15th of the same year. To calculate the simple interest, we use the formula: Interest = Principal × Rate × Time. However, before we proceed, we need to determine the exact number of days for the period specified.
From May 3rd to May 31st, there are 29 days (as May has 31 days and the interest starts accruing after May 2nd). For the month of June, there are 30 days. From July 1st to July 15th, there are 15 days. Therefore, the total number of days is 29 + 30 + 15 = 74 days.
Since the rate is given per annum, we convert the number of days into years by dividing by 365 (assuming a non-leap year): 74 / 365 ≈ 0.2027 years.
Now, we can calculate the simple interest using the following calculations:
Interest = Rs 500 × 6% × 0.2027
Interest = Rs 500 × 0.06 × 0.2027
Interest = Rs 500 × 0.012162
Interest = Rs 6.08 (rounded off to two decimal places)
Therefore, the answer is Rs 6, which most closely matches option B.