a businessman deposited rupees 60000 in a commercial bank at 4.5 % a how long should he deposited the sum to receive an amount of 61350
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1
Answer:
Chetan deposited Rs 60000 in a fixed deposit account for 2 year at 20% per annum iterest being compounded annually .At the end of the 2nd year he withdraw certain amount .Chetan deposited the remaining amount for another one year at the same rate of interest .At the end of he third year his account balance was Rs 46080 find the amount that he withdrew (in Rs)
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Answered by
8
Answer:
P = 60000
A = 61350
rate = 4.5%
Time = n
A = P(1+r)^n
61350 = 60000(1+0.045)^n
1.0225 = (1.045)^n
n = 6months
Step-by-step explanation:
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