a man deposit rupees 4200 Bank at 8% P A and rupees 1400 post office at 6% p a find the rate of interest for the Wholesome
Answers
Calculation of Rate of Interest
Answer: rate of interest for whole sum is 7.5% in a year that is 7.5% P.A
Explanation:
Given that
a man deposited Rs 4200 in a bank at 8% per year.
And man deposited Rs 1400 in a post office at 6% per year.
Need to calculate rate of interest for wholesome.
lets first calculate total interest earned by man in 1 year
In bank
Amount deposited in bank = 4200
Interest earned in 1 year from bank = 8% of 4200
= (8/100) x 4200
= Rs 336
Amount deposited in postoffice = 1400
Interest earned in 1 year from post office = 6% of 1400
= (6/100) x 1400
= 84
Total amout deposited = Amount deposited in bank + Amount deposited in postoffice = 4200 + 1400 = 5600
Total interest eared in 1 year = Interest earned in 1 year from bank + Interest earned in 1 year from post office = 336 + 84 = 420
so Interest earned in percentage = (Total interest eared in 1 year / Total amout deposited ) x 100
=> (420/5600) x 100 = 7.5%
Hence rate of interest for wholesum is 7.5% in a year that is 7.5% P.A.
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Answer:
Calculation of Rate of Interest
Answer: rate of interest for whole sum is 7.5% in a year that is 7.5% P.A
Explanation:
Given that
a man deposited Rs 4200 in a bank at 8% per year.
And man deposited Rs 1400 in a post office at 6% per year.
Need to calculate rate of interest for wholesome.
lets first calculate total interest earned by man in 1 year
In bank
Amount deposited in bank = 4200
Interest earned in 1 year from bank = 8% of 4200
= (8/100) x 4200
= Rs 336
Amount deposited in postoffice = 1400
Interest earned in 1 year from post office = 6% of 1400
= (6/100) x 1400
= 84
Total amout deposited = Amount deposited in bank + Amount deposited in postoffice = 4200 + 1400 = 5600
Total interest eared in 1 year = Interest earned in 1 year from bank + Interest earned in 1 year from post office = 336 + 84 = 420
so Interest earned in percentage = (Total interest eared in 1 year / Total amout deposited ) x 100
=> (420/5600) x 100 = 7.5%
Hence rate of interest for wholesum is 7.5% in a year that is 7.5% P.A.
Step-by-step explanation: