Question

3. Rakesh deposits ₹ 9000 in a bank for 2 1/2 years at the rate of simple interest of 8% per year. Find the amount which Rakesh will receive from the bank at the end of 2 1/2 years.​

Answer 1

Answer:

Step-by-step explanation:

Principal amount is rs 9000

time period is 2 1/2 years

rate of interest is 8%

i = $\frac{PRT}{100}$

i = $\frac{9000X2X1X8}{2X100}$(here, 2 is on bottom and one 1 is on top  because time period is 2 1/2 years. so the 2 in 1/2 comes in denominator.)

i=720

Amount=interest + principal amount

Amount = 720 + 9000 = 9720

therefore, the amount Rakesh will receive at the end of 2 1/2 years is Rs.9720.

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