A man deposited ₹12000 in a bank which pays 6% simple interest. He withdraws ₹2000 at the end of the first year. What will be his balance after 3 years?
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Answers
Answered by
12
It's simple.
First for one year,
Simple Interest = (P*T*R)/100
=( 12000*6*1)/100
=1200
Total Amount = 13200
After widrawal amount= 11200
Now, simple Interest for next 2 years
=(12000*2*6)/100
=1440
Total balance=11200+1440=12640
Answered by
10
Answer:
Given that
principal =12000
rate =6%
therefore ,according to question
the simple interest for one year
(I)=12000×6×1÷100
=720
therefore,
amount =12000+720
=12720
withdrawing 2000 rupees
=12720- 2000
=10720
therefore, simple interest for next 2year
= 10720×6×2÷100
=1286.4
amount =10720 +1286.4
=12006.4
therefore the balance after 3 year will be
12006 (approximately).
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