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 calculate the total amount after 20 years.

Answer 1

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

Answer 2

Answer:

Step-by-step explanation: