Question

if $200,000 is saved at a simple interest of 5% per annum . Calculate the total amount after 4 years

Answer 1

Answer:

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Step-by-step explanation:

AMOUNT =PRINCIPLE +SIMPLE INTREST

SI=P×T×R/100

200000×5×4/100=4000

AMOUNT = 200000 +4000

AMOUNT =200400

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Important signs

T=Time

R=Rate

A=Amount

P=Principle

SI=Simple Interest

Answer 2

Total amount of saved after 4 years = $240000

Stepwise Solution -

Given that -

Principal(P) - $2,00,000

Rate(R) - 5%

Time(T) - 4 years

To find -

Amount = ? (after 4 years at given rate of interest)

Solution -

$\mathrm{ \because Simple \: interest \: = \frac{Principal(P) \times Rate(R) \times Time(T)}{100} }\\\implies \mathrm{ I = \frac{P \times R \\\times T}{100}}\\\implies \mathrm{I = \frac{\: 2,00,000 \times \: 5 \: \times 4}{100} \: dollars}\\\implies \mathrm{I = 40,000 \: dollars}$

$\mathrm{Also, \: Amount(A) = Principal(P) + Simple \: Interest(I)}\\\implies \mathrm{A = P + I}\\\implies \mathrm{A = (2,00,000 + 40,000)\:dollars}\\\implies \mathrm{A = 2,40,000 \: dollars}$

Check, If I had made it clear

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