Question

a businessman deposited $5,000 in a bank at an interest rate of 4%. what is his total amount after 2 years?

Answer 1

Step-by-step explanation:

P=5000 ,R=4℅,T=2year

Interest=PRT/100

=(5000*4*2)/100

=50*8

Interest=400rs.

Amount=P+I

=5000+400

Amount=5400rs.

Answer 2

Answer:

Amount = $5,400

Step-by-step explanation:

Given :

Principal = P = $5000

interest rate = R = 4%

Time = N = 2 yrs

To Find :

Total amount

Formula :

$\text {Interest = \frac {P \times R \times N}{100} }$

$\textsf {Amount = Principal + Interest }$

Solution :

Now, let us find interest first

$\mathrm {I = \frac {5000 \times 4 \times 2}{100}} \\\\\rm {I = 50 \times 4 \times 2} \\\\\rm {I = 400}$

${\textbf {Hence interest is 400\ }}$

Now, amount = 5000$ + 400$

${\boxed {\underline {\textsf {Amount = \ 5,400}}}}$

Hope it helps

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