Application: 14. By depositing rupees 700 in the bank for a certain period of time at the fixed rate of simple interest per annum, I got rupees 900 as principal along with interest. Let us write, by calculating, the amount to be deposited for which I would get rupees 1350 for the same time and at the same rate.
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Step-by-step explanation:
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
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