Deepak deposited a sum of Rs.1,00,000 in a bank. After 2 years he
withdraws Rs.40,000. At the end of 5 years he received an amount of
Rs.75, 200. Find the rate of simple interest.
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Answer:
principle amount = 100000
withdrawn amount = 40000
after 2 years the actual principle amount reduced to .
100000-40000=60000
let interest =X%
so interest on amount of 5 years
(X/100×60000)×5=300X
interest on 40000 for 2 years.
(X/100×40000)×2=800X
now total amount after 5 years
60000+300X+800X=75200
60000+1100X=75200
1100X=75200-60000
1100X=15200
X=15200/1100
X=13.8
so rate of simple interest is 13.8(approx)
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