Question

A man deposit 1500 in bank on first day of every month if the rate of interest is 4% per annum.Calculate the total amount he get back after one year

Answer 1

Answer:

Step-by-step explanation:

Principle(P)=1500

Interest(r) =4

Period (n) =1

Simple interest= PNR/100

= 1500x1x4/100

=60

Amount received =1500+60

=1560

Hope this helps you

Mark this as brainlist answer