Question

5. Andrew deposited 5500 and Anamika
deposited * 4800 in a bank. If the bank pays a
simple interest of 2% per annum, then how
much more interest would Andrew get than
Anamika after a year?​

Answer 1

Therefore she will get Rs (2400+378.3) = Rs.2778.3 on maturity.

Explanation:

Given that, Anamika deposits Rs. 2400 at 10% annual interest for 1\frac{1}{2}1

2

1

years.

1\frac{1}{2}1

2

1

years= (1\frac{1}{2} \times 12) month =18\ month(1

2

1

×12)month=18 month = 6 months+6 months+6 months.

Since the interest is calculated in every 6 month , so the the principal will be changed after 6 month.

First 6 month:

Here P= Rs. 2400, r= 10%, time = 6 month =\frac{1}{2}

2

1

year

I_1 =\frac{Prt}{100}I

1

=

100

Prt

=\frac{2400\times 10\times \frac{1}{2} }{100}=

100

2400×10×

2

1

=Rs. 120

Second 6 month,

Here P=Rs. (2400+I₁)=Rs (2400+120)=Rs. 2520 , r= 10%, time = 6 month =\frac{1}{2}

2

1

year

I_2=\frac{Prt}{100}I

2

=

100

Prt

=\frac{2520\times 10\times \frac{1}{2} }{100}=

100

2520×10×

2

1

=Rs. 126

Third month:

Here P=Rs. (2520+I₂)=Rs (2520+126)=Rs. 2646 , r= 10%, time = 6 month =\frac{1}{2}

2

1

year

I_3=\frac{Prt}{100}I

3

=

100

Prt

=\frac{2646\times 10\times \frac{1}{2} }{100}=

100

2646×10×

2

1

=Rs. 132.3

Total interest (I)=I_1+I_2+I_3(I)=I

1

+I

2

+I

3

=Rs.( 120+126+132.3)

=Rs. 378.3

Therefore she will get Rs (2400+378.3) = Rs.2778.3 on maturity.