Question

A bank gives 6% simple interest on deposits find the amount to be deposited even an interest ₹45 in one one year

Answer 1

Answer:

Here is the solution of your question

Answer 2

Answer:

$750

Step-by-step explanation:

Given :- Rate of interest = 6%, Simple Interest = $45, Time = 1 year.

To Find :- Principle amount to be deposited.

Solution:-

We know that,

Simple Interest = ( Principle × Rate of Interest × Number of year ) ÷ 100

Here, Rate of interest = 6%

Simple Interest = $45

Time = 1 year.

Putting all given information in the above formula,

⇒ 45 = ( Principle × 6 × 1 ) ÷ 100

⇒ 45 × 100 = Principle × 6

⇒ Principle = 4500 ÷ 6

⇒ Principle = $750

Therefore, the principle amount to be deposited = $750 .

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