Question

A man Deposit Rs 1000 in a savings bank account. How much will it amount in three years if the rate of interest is 5% per annum and the interest is payable annually? (Solve without using formula)

Answer 1

this is your correct answer

Answer 2

$\blue{\Large{ \mathfrak{ \underline{ Question :}}}} \\ \\ \text{Anita deposits Rs. 1000 in a savings} \\ \text{bank account. The bank pays} \\ \text{interest at the rate of 5 percent} \\ \text{per annum. What amount can} \\ \text{Anita get after 1 year ?} \\ \\ \blue{\Large{ \mathfrak{ \underline{ Solution :}}}} \\ \\ \rm Principal \: amount \: (P) = Rs. \: 1000 \\ \rm Time \: period \: (T) = 1 \: year \\ \rm Rate \: of \: interest \: (R) = 5 \: \% \: p.a. \\ \\ \sf \large \underline{Simple \: Interest : } \\ \qquad \rm = \frac{P \times R \times T}{100} \\ \rm \qquad = \frac{ 10\cancel{00} \times 5 \times 1}{ \cancel{100}} \\ \rm \qquad = Rs. \: 50 \\ \\ \textbf{Total amount paid after 1 year} \\ \qquad\text{= Principal amount + Interest} \\ \qquad\text{= Rs 1000 + Rs 50} \\ \qquad \text{= Rs 1050}$