Question

Aarav puts ₹15,000 in to a savings account for one year. If the bank gives him

9% p.a. simple interest for the first 10 months and 8.5% p.a. simple interest for

thenext two months, whatwill he get after one year?​

Answer 1

Given : Aarav puts ₹15,000 in to a savings account for one year.

bank gives him  9% p.a. simple interest for the first 10 months and 8.5% p.a. simple interest for  the next two months,

To Find : what will he get after one year?​

Solution:

P = 15000

R = 9 % p.a for  first 10 months

8.5 % p.a for next 2 months

SI = P * R * T /100

SI for  first 10 months

= 15000 x 9  * (10/12) /100

= 1,125

SI for next 2 months

= 15000 x 8.5  * (2/12) /100

=  212.5

Total Interest = 1125 + 212.5

= 1,337.5

Amount received after 1 year = 15000 + 1,337.5

= 16,337.5

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