Question

12) Ram deposited Rs 90,000 in a bank which pays him
5% interest. After 2 years, he withdraws the money &
buys a car for Rs 94,000. How much money is left with
him ?​

Answer 1

Answer:

Rs 5,000

Step-by-step explanation:

Principal, P= Rs 90,000

Rate of Interest, R = 5%

Time , T = 2 yrs

Now, calculate using formula

Simple Interest, S.I = P × R × T/ 100

simple interest=

$\frac{90,000* 5 * 2}{100} \\= 9,000$

simple Interest = Rs 9,000

Now, Calculate Amount using formula

= Amount = P+S.I

Amount = Rs 90,000 + 9,000

Amount = Rs 99,000

He withdraws the money &  buys a car for Rs 94,000

cost of car = Rs 94,000

∵ 99,000 - 94,000

= Rs 5,000

∴ Rs 5,000 is left with him.