A man deposits Rs. 17500 in a bank at 8% per annum simple interest on Ist January 2000, He withdraws the amount on 1st April 2002. How much money did the person receive?
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Answer:
The person will receive Rs. 20650 on 1st April 2002.
Step-by-step explanation:
SI = P*R*T /100
= Rs. 17500*8*9/4*100
=Rs. 1260000/400
=Rs. 3150
Total money received = Rs.17500+3150
=Rs. 20650
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