Question

) A certain amount was deposited into a bank account having a simple interest rate
of 5%. If the total amount after 4 years was ₹1,500, how much was the amount
deposited initially? For the same initial amount, how should the interest rate
increase such that the simple interest would amount to ₹400?

Answer 1

A certain amount was deposited into a bank account having a simple interest rate

of 5%. If the total amount after 4 years was ₹1,500, how much was the amount

deposited initially? For the same initial amount, how should the interest rate

increase such that the simple interest would amount to ₹400?

Answer 2

Step-by-step explanation:

R=5%

N=4 years

A=1500

P+I = 1500

P+PNR÷100=1500

P(1+4×5÷100)=1500

P=1250 Rs

case 2

P=1250Rs

I=400 Rs

I=PNR÷100

400=1250×4 ×R ÷100

R=8%