Question

A bank pays 12% simple interest per annum. A man spends Rs. 1150 per month. How much minimum money should be deposited in Bank so that his monthly expenditure can be fulfilled?

Answer 1

let principal is =x
rate =12%
now applying condition
his monthly expense=1150
so annual expenses=1150*12=13800 RS
so basically we have to cover his monthly expenditure .so for that we need A= P+13800
or I = A-P=13800.
now we got the condition
===> 12%(12/100) of X = 13800
===>X=13800*100/12=115000
so now we got the principal which is 115000
which is the minimum money should be deposited in the bank to fulfill his monthly expenditure
hope it helps

Answer 2

Answer:

115000

Step-by-step explanation:

let principal be rs x

a/q,12÷100× x=his annual expanditure (13800)

=13800×100÷12=115000