Question

b) A certain amount was deposited into a bank account having a simple interest rate
of 5%. If the total amount after 4 years was 1,500, how much was the amount deposited initially? For the same initial amount, how should the interest rate increase such that the simple interest would amount to 400?







pls tell me the correct answer​

Answer 1

Answer:

It is given that the man deposited Rs 10000 in a bank at the rate of 5% simple interest annually. Since, the simple interest is added every year, the amount in every year is a term in arithmetic progression.

Formula for Simple Interest I=

100

P⋅T⋅R

∴ Interest for each year =

100

5

×Rs 10000=Rs 500

Interest for each year is the common difference.

Formula for n

th

term in an AP t

n

=a+(n−1)d

Amount in 15

th

year =10000+14(500)

=17000

Amount after 20 years, which is amount in 21

st

year=10000+20(500)

=20000

Answer 2

Answer:

1250 Rupees, 8%.

Step-by-step explanation: