Question

A person opened a savings bank account
4 months ago, which has now a balance of
'Rs. 21,315. If the bank-pays 4.5% simple interes
ank-pays 4.5% simple interest, how much money was deposited by
him, initially?
​

Answer 1

Answer:

21315= 100%

4.5=?

21315/450(4.5 ×100)

=47

hence 21315-47=21268

Answer 2

Answer:

A=p(1+rt)

21315=p(1+(4.5/100)×4/12)

21315=p(1+(0.045)(0.333))

p=21315/1.01499

p=21000