Question

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.​

Answer 1

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withdrawn amount = 40000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)