Question

ahmed has a reccuring deposit account in a bank .He deposits rs.2500 per month for 2 years .If he gets rs.66250 at the time of maturity,find:
the interest paid by the bank and the rate of interest
​

Answer 1

PRINCIPLE=RS 2,500

PER MONTH FOR 2 YEARS =(2×12 MONTHS )

THEREFORE P=RS 2,500×24=RS 60,000

AMOUNT=RS 66,250

INTEREST =AMOUNT-PRINCIPLE

=RS 66,250-RS 60,000

THEREFORE INTEREST=RS 6,250

RATE=?

INTEREST=PRINCIPLE×TIME×RATE OF INTEREST/100

=RS 6,250=RS 2,500×25 YEARS×RATE OF INTEREST/100

RATE OF INTEREST =RS 6,250/25 YEARS ×RS 2,500×100

(TRANSPOSING METHOD)

THEREFORE RATE OF INTEREST = 100%

I HOPE IT HEPLS YOU

MARK AS BRAINLIEST PLASEEE.......