Question

If mohan deposited 15000rs in the bank at the rate of 8.5 p.c.p.a for 2 year. what is the amount he will get at the end of the period​

Answer 1

Step-by-step explanation:

P = 15000

R = 8.5%

T = 2yr

S.I. = P×R×T/100

SI = 15000 × 8.5 × 2 / 100

SI = 2550

A = SI + P

A = 2550 + 15000

Answer = 17550

Answer 2

Given:

Amount deposited = P = Rs. 15,000

Rate = R = 8.5%

Time = T = 2 years

To Find:

Amount received at the end of the year

Solution:

Using the formula of Simple Interest -

S.I. = P × R × T/100

Substituting the values -

SI = 15000 × 8.5 × 2 / 100

= 150 × 8.5 × 2

=  300 × 8.5

= 2550

Calculating the amount -

Amount = SI + P

= 2550 + 15000

= 17550

Answer: The amount he will receive at the end of the year is Rs. 17,550