A man puts Rs4500 in a fixed deposit for 5 years at 5 ½% per year. Find the amount he will get back after 5 years.
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Answer:
Deposit amount =4500
Interest rate =5.5%per year
4500*5.5/100=247.5 per year interest
247.5*5=1237.5
5 years amount with interest 5737.5
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Step-by-step explanation:
Aman puts Rs 4500in a fix deposit for5 years at 5 1/2 % per year.
The percentage of ₹4500 of 5 1/2% is rs= 4500×5.5= ₹247.5
he profit of rs 247.5 in 1 year.
for 5 years his profit is 247.5×5 =1237.5 only interest .
so that, he will get back the total amount is rs = 4500+1237.5=5737.5 after 5 years.
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