Question

Calculate the future value of rs.1,00,000 if you deposit in the bank at 6% . Per annum rate of interest for 5 years.

Answer 1

We know,

I=Pnr

Here,P=rs 100000

n= 5 years

r= 6 percent

So, Profit=30000 rs

Futire value=130000 rs

(Ans.)

Answer 2

Answer:

The final value will be Rs. 1,30,000.

Explanation:

The sum is given as Rs.100000

Rate of interest is 6℅

Time is 5 years

So, the simple interest( SI) = PTR/100, where P is the sum of money, T is the time and R is the rate per annum.

So, SI = (100000*5*6)/100 = Rs. 30,000

So, the outstanding amount is = P+ SI = Rs. 1,30,000.

The final amount becomes Rs. 1,30,000.