Question

Anil deposited rupees 8000 in a bank .he withdrew rupees 3000 after 2 years .at the end of 4 years he received an amount of rupees 6800. find the rate of interest

Answer 1

Simple Interest is interest earned on the principal only. In other words, interest income will be distributed 
to investors and no further interest will be earned from interest income. The equation for finding simple interest is:

A = P + (P x r x t) 
where 
A = Total amount due to the investor 
P = Principal 
r = Annual interest rate (decimal) 
t = Number of years (time)

Bozo put As. 1,000 in the bank for 6 months at a 10% interest rate. Find how much money will he have in 
his account at the end of six months. 
A = P + (P x r x t) 
A = 1,000 + (1,000 x 0.1 x 0.5) 
A = 1,000 + (100 x 0.5) 
A = 1 ,000 + 50 
A = As. 1 ,050 
The amount of money Bozo will have in his account at the end of six months is Rs. 1,050