Question

If Daniel gets an interest of Rupees 90 for 2 years at 9% rate per annum, what is the sum he
has deposited. Also find the total amount that he would receive at the end of 2 years.
OR​

Answer 1

$simple \: interest = \frac{prt}{100}$

let principal be a

so,

$90 = \frac{a \times 9 \times 2}{100}$

$a = \frac{100 \times 90}{2 \times 9}$

$a = 500$

so,

amount deposited is 500

and,

as we know,

$amount = principle + interest$

$amount = 500 + 90$

$amount = 590$