Question

A and B both deposited 2000 in a bank with 5%.after 3 and 4 years ago both got equal money.how much money A get

Answer 1

This question consists information about A and B's Deposit of 2000(Together)..

Given Principal Amount of A = (P) = 2000

Rate of Interest Per annum= (i) = 5%

Time= (n) = 3 years/ 4 years..

Required to find= (A) = Future Amount

Method followed= Compound Interest


We know that

A = P(1+i)^n

[where A= Future Amount, P=Principal Amount,i=Rate of Interest Per annum,n=no.of years/periods)

Take n=3years.

A = P(1+i)^n

=2000(1 +5/100)^3

=2000(1 + 0.05)^3

=2000(1.05)^3

=2000(1.157625)

=2315.25 is the amount they get after 3 years...

Share of A ,B = 2315.25/2=1157.62 each


now n=4 years...

A = P(1+i)^n

=2000(1 +5/100)^4

=2000(1 + 0.05)^4

=2000(1.05)^4

=2000(1.21550625)

=2431.01 is the amount they get after 4 years..

..Share of A ,B = 2431.01/2 = 1215.5 each