Question

Gopal deposited rs.225000in a bank at the rate of 2paisa per rupee per month. If he got rs 135000as a simple interest after certain time. Find the time?

Answer 1

Principal Amount = Rs. 1000 Time Period = 6 Months Interest Type = Simple Interest Interest Rate = 5 paisa per rupee per month Interest Per Month = Rs. 1000 * Rs. 0.05                                = Rs. 50Interest For 6 Months = Rs. 50 * 6                                   =  Rs. 300 Amount = Principal + Interest               = Rs. 1000 + Rs. 300               = Rs. 1300 Therefore, the simple interest on Rs. 1000 for 6 months at the rate of 5 paisa per rupee per month is Rs. 300 . And the amount is Rs. 1300  .