Question

A man deposited 10,000 in anaccount which gives simple interest.He withdrew the amount and interestafter two years. He would have got 64 more, had interest beencompounded. What was the rate ofinterest as a percent ?(1)6(2)7(3)8(4)9​

Answer 1

Answer:

in a bank at the rate of 5% simple interest annually.

∴ Interest in first year =

100

5

×Rs10000=Rs500

∴ Amount in 15

th

year=Rs10000+

14times

500+500+...+500

=Rs.10000+14×Rs500

=Rs10000+Rs7000

=Rs17000

Amount after 20 years =Rs10000+

20times

500+500+...+500

=Rs10000+20×Rs500

=Rs10000+Rs10000=Rs20000

Answered By

toppr

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Step-by-step explanation:

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