Question

# A SUM OF MONEY WAS DEPOSITED AT THE BANK AT THE RATE OF 10% PER ANNUM SIMPLE INTEREST. THE AMOUNT AFTER THREE YEARS BECAME ₹15600 . WHAT WAS THE AMOUNT DEPOSITED AT THE BEGINNING?

Answer 1

Answer:

Do you know that banks pay you to let them keep your money? The money you put in the bank is called the principal, P, and the bank pays you interest, I. The interest is computed as a certain percent of the principal; called the rate of interest, r. The rate of interest is usually expressed as a percent per year, and is calculated by using the decimal equivalent of the percent. The variable for time, t, represents the number of years the money is left in the account

SinceRs 3744 is earned in 3

rd

and 4

th

year combined, interest only in 4

th

year =

2

3744

=Rs.1872

Answer 2

Step-by-step explanation:

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