A man deposited a certain sum of money continously for 3 years after 3 year he received amount to Rs. 23808 at the rate of 12% annual simple interest .find the deposited money in each year
Answers
Answer:
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Step-by-step explanation:
Given:
A man deposited a certain sum of money at the beginning of each year for three years in a bank. After 3 years he got total amount Rs. 7440.
If the rate of interest is 12% per annum at simple interest.
To find:
The amount deposited at the beginning of each year.
Solution :
SI for three years + principal = 7440
Rate of interest = 12%
No of years = 3
From the given option, maximum amount is Rs.2500.
12% of 2500 = 300 rupees.
For three the maximum interest will be gaind = 1000 (approx.)
answer : 6400
explanation:
let us assume that the man deposit 100 each year.
first year deposit : Rs100 for this he'll get interest for 3 years so 12% of 100 for 3 years = Rs 36
second year he'll again deposit Rs 100 for which he'll get interest for next 2 years so 12% of 100 for 2 years will be Rs 24
third year he'll deposit Rs 100 for which he'll get interest for 1 year so 12% of 100 for 1 year will be Rs 12.
Now total principle paid by the man = Rs 300
total interest earned = Rs 36 + Rs 24 + Rs 12 = Rs 72
hence according to us he'll get Rs 372 but according to question he is getting Rs 23808 so it means
372 is equivalent to Rs 23808
therefore 1 is equivalent to Rs 64
hence as we assumed that he is paying Rs100 each year so 100 will be equivalent to Rs 64*100= Rs 6400