Question

If I deposit 1,20,000 rupees for 3 years at a rate of
interest of 7% per annum in a bank. What is the amount
I will receive after the period.If the same conditions are
applied for the 75,000 rupees then, How much money
will be received in total?​

Answer 1

Answer:-

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Given:

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▪︎Principal ¹ = Rs.1,20,000

▪︎Principal ² = Rs.75,000

▪︎Time = 3 years

▪︎Rate = 7%

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To find:

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▪︎Amount recieved on Rs.1,20,000 after 3 yrs.

▪︎Amount recieved on Rs.75,000 after 3 yrs.

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Formula Used:

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▪︎$\sf{}S.I. = \frac{Principal × Rate × Time}{100}$

▪︎$\sf{}Amount = Principal + S.I.$

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Solution:

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$\sf{}S.I. = \frac{Principal¹ × Rate × Time}{100}$

$\sf{} =\frac{1,20,0\cancel{00}× 7 × 3}{1\cancel{00}}$

$\sf{}= 1200 × 7 × 3$

$\sf{}=Rs.25,200$

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So,

$\bf{}Amount¹ = Principal ¹ + S.I.$

$\bf{}=120000 + 25200$

$\bf{}=145200$

$\boxed{\pink{\bf{\therefore Amount\ on\ 120000\ is\ Rs.1,45,200}}}$

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$\sf{}S.I. = \frac{Principal² × Rate × Time}{100}$

$\sf{} =\frac{750\cancel{00}× 7 × 3}{1\cancel{00}}$

$\sf{}= 750 × 7 × 3$

$\sf{}=Rs.15,750$

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So,

$\bf{}Amount² = Principal ² + S.I.$

$\bf{}=75000 + 15750$

$\bf{}=90,750$

$\boxed{\pink{\bf{\therefore Amount\ on\ 75,000\ is\ Rs.90,750}}}$

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Hence,Amount on Rs. 120000 is 1,45 200

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Amount on Rs. 75,000 is 90,750.

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Formula to be remembered:-

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▪︎$\sf{}S.I. = \frac{Principal × Rate × Time}{100}$

▪︎$\sf{}Amount = Principal + S.I.$

▪︎$\sf{}Principal = \frac{S.I. × 100 }{Rate × time}$

▪︎$\sf{}Rate = \frac{S.I. × 100 }{Principal × time}$

▪︎$\sf{}Time = \frac{S.I. × 100 }{Principal × Rate}$⠀⠀⠀⠀⠀⠀⠀⠀

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