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 calculate the total amount after 20 years.
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Principal amount = Rs 10,000
Interest rate = 5%
Find the interest for a year:
Interest = 5% of Rs 10,000
Interest = 0.05 x 10000 = Rs 500
Find the amount in 15 years:
Interest = 500 x 15 = Rs 7500
Total amount = 10,000 + 7500 = Rs 17500
Find the amount after 20 years:
Interest = 500 x 20 = Rs 10000
Total amount = 10,000 + 10000 = Rs 20000
Answer: Total amount after 15 years = Rs 17500. Total amount after 20 years = Rs 20000
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