Question

A man deposited rupees 19000 in a post office saving account at a rate of 5.5% per annum.find the credit balance at the end of the year.

Answer 1

Total credit balance is 20045

Step-by-step explanation:

Deposited rupees in a post office, = 19000

5.5% rate per annum on a deposited money,

= $19000\times \frac{5.5}{100}$

= $\frac{104500}{100}$

= 1045

Total credit balance at the end of the year,

= $19000 + 1045$

= 20045

Total credit balance is 20045