Question

A man deposited Rs 10000 in a bank at the rate of 5% simple interest annually. Find the amount in 15th year since he deposited the amount and also calculated the total amount after 20 years.

Answer 1

Hi

Here is your answer,

Man deposited = Rs. 10,000

Rate of Interest = 5%

Amount at the end of 1st year

       = Rs. [ 10000 + 10000 × 5 × 1/100]

                                                                               [∴ A=P + ( P × R × T/100)]

= Rs. [ 10000 + 500 ] = Rs. 10500

Amount a the end of 2nd year

=Rs. [ 10000 + 10000 × 5 × 2/100] 

= Rs. [ 10000 + 1000] = Rs. 11000

Similarly , amount at the end of 14th year

= Rs. [ 10000 + 10000 × 5 × 14/ 100]

= Rs. [ 10000 + 7000] = Rs. 17,000

Hence, the amount at the end of 14th year = amount in the 15th year = Rs. 17000

Now, amount at the end of 20th year

= Rs. [ 10000 + 10000] = Rs. 20000 


Hope it helps you !

Answer 2

Answer:

Step-by-step explanation: