Simple Interest
1. **Problem Statement:** Saddiq deposited RM15500 on 12 February 2024 in an account with 6.5% simple interest per annum. Find the interest earned on 20 May 2024 using approximate time and exact simple interest.
2. **Calculate Time Period (Days):**
- From 12 Feb to 20 May: Feb (16 days: 29-12 since 2024 is leap year), Mar (31 days), Apr (30 days), May (20 days)
- Total days = 16 + 31 + 30 + 20 = 97 days
3. **Convert Time to Years:**
- Approximate time using 365 days in year
- $$ t = \frac{97}{365} $$ years
4. **Calculate Simple Interest:**
- Principal $P = 15500$
- Rate $R = 6.5 \% = 0.065$
- Time $t = \frac{97}{365}$
- Interest $I = P \times R \times t$
5. **Substitute values:**
- $$ I = 15500 \times 0.065 \times \frac{97}{365} $$
- $$ I = 15500 \times 0.065 \times 0.26575 = 267.57 $$
6. **Final Answer:**
- The interest earned is approximately RM267.57.