Question

A sum of 10000 was deposited in a bank for 189 days at the rate of 7.3% p.a., find the amount​

Answer 1

Answer:

It is given that the man deposited Rs 10000 in a bank at the rate of 5% simple interest annually.

∴ Interest in first year =

100

5

×Rs10000=Rs500

∴ Amount in 15

th

year=Rs10000+

14times

500+500+...+500

=Rs.10000+14×Rs500

=Rs10000+Rs7000

=Rs17000

Amount after 20 years =Rs10000+

20times

500+500+...+500

=Rs10000+20×Rs500

=Rs10000+Rs10000=Rs20000