Question

A child friendly bank announces a savings scheme for school children.They will give kiddy banks to children. children have to keep their savings in it and the bank collects all the money once in a year.To encourage children savings,they give 6% interest if the amount exceeds by₹10000, and other wise 5%.Find the interest received by a school if they deposit is₹9000 for one year.




please give the answer ​

Answer 1

Answer:

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Answer 2

Answer:

Explanation:

Amount deposited in the bank for one year is Rs. 9000, which is less than 10000

So the rate of interest given by the bank, r=5%

Principal amount, P=9000

Time, t=1 year

Simple interest  =100P×r×t​

=1009000×5×1​

=90×5=Rs.450

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