a bank gives simple interest on depositing the for 2years at 8 1\2 find the sum deposited by ramesh in this bank ,if he got 2340rupees after 2years
Answers
Step-by-step explanation:
Given a bank gives simple interest on depositing the for 2 years at 8 1\2 find the sum deposited by Ramesh in this bank ,if he got 2340 rupees after 2 years
Let Principal = 100
We know that S.I = P x R x T / 100
= 100 x 8.5 x 2 / 100
= Rs 17
So 100 + 17 = Rs 117.
For Rs 117 the principal is 100
Therefore for Rs 2340 it will be 2340 x 100 / 117
= Rs 2000
The sum deposited by ramesh in this bank is Rs 2000
Amount Deposited = rs 2000 if Rs 2340 received after 2 years at SI of 8 1/2 %
Step-by-step explanation:
Let say Sum deposited = P
Time = 2 Year
Rate of interest = 8 1/2 = 17/2 %
Simple interest = P * R * T /100
Simple interest = P * (17/2) * 2 /100 = 0.17P
Amount Deposited + Simple interest = Amount Received
=> P + 0.17P = 2340
=> 1.17P = 2340
=> P = 2000
Amount Deposited = rs 2000
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