Question

Baibhav deposits $3000 in a bank for a period of 2 years. If the bank gives an interest of5% per annum.Find the amount Baibhav would get back at the end of 2 years.

Answer 1

The amount would get back at the end of two years = Rupees 3,300.

Given:

P = ₹ 3,000

T = 2 Years

R = 5% per annum

Need To Find:

The amount would get back at the end of two years = ?

Explanation:

To find the amount, we have to find the interest.

\underline\mathsf \blue {Formula\:Used\:Here\: :-}

FormulaUsedHere:−

SI = P × R × T

Putting the values according to the given Formula then we get:

\implies \mathsf {SI = \frac{3000 \times 2 \times 5}{100} }⟹SI=

100

3000×2×5

\implies \mathsf \green {Rs.\: 300}⟹Rs.300

Now,

Amount = SI + P

\implies \mathsf {Rs.\:300 + Rs.\:3,000}⟹Rs.300+Rs.3,000

\implies \mathsf \green {Rs.\:3,300}⟹Rs.3,300

Vaibhav will get back an amount of Rs. 3,300 at the end of two years.

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