Question

2. Ramesh deposits Rs 5000 in a bank at the rate of 5% per
annum. What interest will he get after 4 years? Also find
the amount he will receive.

Answer 1

Answer:

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Step-by-step explanation:

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Answer 2

Answer :-

Given :-

• Principal = Rs. 5000
• Rate of interest = 5% p.a.
• Time = 4 years

To Find :-

• Simple interest
• Amount

Solution :-

We know that,

Simple interest = P × R × T / 100

Substituting the value :-

→ SI = 5000 × 5 × 4 / 100

→ SI = 50 × 5 × 4

→ SI = 1000

Simple interest = Rs. 1000

Also,

→ Amount = Interest + Principal

→ Amount = 1000 + 5000

→ Amount = 6000

Amount = Rs. 6000