Question

Amit deposited ₹4,800 in his account. The bank pays an interest of 6% per annum .What amount will Amit get back after 3 years?

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Answer 1

Step-by-step explanation:

Amount = Principal - Interest.

Answer 2

$\huge\rm{\fcolorbox{black}{lavender}{\purple{Solution}}}$

Principal = 4, 800

Rate = 6%p.a (Per Annum)

No. of Years = 3 years

$\tt\red{\underline{Simple \: Interest}} = \frac{Principal × Rate × No. of Years}{100} \\ = \frac{48∅∅ \times 6 \times 3}{1∅∅} \\ = \frac{48 \times 6 \times 3}{1} \\ = {864}$

$\tt\red{\underline{Amount}} = Principal - Simple Interest \\ = 4800 - 864 \\ = 3936$

Amit will get back 3,936 amount after 3 years…