My Math Forum I didn't understand last two steps in this SI problem:

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 July 18th, 2019, 07:35 AM #1 Senior Member   Joined: Aug 2014 From: India Posts: 458 Thanks: 1 I didn't understand last two steps in this SI problem: The sum lent at 5% per annum (i.e 365 days) simple interest, that produces interest, of Rs 2.00 per day, is: Shortcut solution: 5% = 5/100 = 1/20 2*365 = 730 730*20 = 14600
 July 18th, 2019, 11:45 PM #2 Senior Member   Joined: Apr 2014 From: UK Posts: 953 Thanks: 340 The yearly interest is 2*365. If the interest is 5% or 1/20 then the sum lent must be 20 times the yearly interest.

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