Question

If Arun deposited 130000 in bank and he get 150000 after 5 year find Simple Interest And Rate of Interest​

Answer 1

Answer:

it is given that the man deposited Rs 10000 in a bank at the rate of 5% simple interest annually. Since, the simple interest is added every year, the amount in every year is a term in arithmetic progression.

Formula for Simple Interest I=

100

P⋅T⋅R

∴ Interest for each year =

100

5

×Rs 10000=Rs 500

Interest for each year is the common difference.

Formula for n

th

term in an AP t

n

=a+(n−1)d

Amount in 15

th

year =10000+14(500)

=17000

Amount after 20 years, which is amount in 21

st

year=10000+20(500)

=20000

Step-by-step explanation:

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