Question

9. Reena made a fixed deposit for certain years. She deposited ? 12,000 and after maturity of the fixed
gor 15972. The interest rate was 10% pa. compounded annually. Find the time.
deposit she​

Answer 1

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Reena made a fixed deposit for certain years. She deposited 12000 and after maturity of the fixed deposit she got 15972. The interest rate was 10% p.a. compounded annually. Find the time.

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She deposited the money for 3 years.

Step-by-step explanation:

${\large{\boxed{\mathrm{\orange{Given :-}}}}}$

• Principal = 12,000
• Rate of interest = 10% p.a.
• Amount = 15,972
• Type of interest = Compound Interest

${\large{\boxed{\mathrm{\pink{To \ Find :-}}}}}$

• Time

${\large{\boxed{\mathrm{\blue{Solution :-}}}}}$

We will do this answer through the process of Simple Interest.

Amount for 1st year :

${\mathsf{= \dfrac{Principal \times Rate}{100}}}$

$\Longrightarrow {\mathsf{\dfrac{12,000 \times 10}{100}}}$

$\Longrightarrow {\mathsf{120 \times 10}} = 1,200$

${\mathsf{Interest \ for \ 1st \ year = 1,200}}$

Amount = Principal + Interest

Amount = 12,000 + 1,200 = 13,200

Amount for 2nd year :

${\mathsf{= \dfrac{Principal \times Rate}{100}}}$

$\Longrightarrow {\mathsf{\dfrac{13,200 \times 10}{100}}}$

$\Longrightarrow {\mathsf{132 \times 10 = 1,320}}$

${\mathsf{Interest \ for \ 2nd \ year = 1,320}}$

Amount = Principal + Interest

Amount = 13,200 + 1,320 = 14,520

Amount for 3rd year :

${\mathsf{= \dfrac{Principal \times Rate}{100}}}$

$\Longrightarrow {\mathsf{\dfrac{14,520 \times 10}{100}}}$

$\Longrightarrow {\mathsf{1,452}}$

${\mathsf{Interest \ for \ 3rd \ year = 1,452}}$

Amount = Principal + Interest

Amount = 14,520 + 1,452 = 15,972

Hence,

• After 3rd year, the Amount is 15,972.

${\large{\boxed{\underline{\mathsf{\blue{T}{\green{i}{\pink{m}{\red{e = \ }{\orange{8 \ years}}}}}}}}}}$

Answer 2

Answer:

Solution:-

On Rs 100 interest  charged for 1 year is 10 Rs.

So,

On Rs 12,000 Interest Charged =

$\frac{10}{100}</p><p> × 12,000$

× 12,000

=> 1200

Interest for 4 year 1200 × 4 = 4800

Amount to be paid at end  of 4 years = Principal + Interest

=> 12,000 + 4800

=> 16800 Rs