Question

Cheta opened a savings bank account on 5 April 2009 with a deposit of rupees 100400 .he closed it after 2 years if the bank paid him 6 percent interest per annum,what amount did he recieve

Answer 1

p = 100400
t = 2 years
r% = 6%

Si = ptr/100
Si = 100400*2*6/100
Si = 12048

amount = Si + p
amount = 12048 + 100400
amount received = 112448