Question

If rahim deposited the same amount of rs. x in a bank at the beginning of successive 3 years and the bank pays simple interest of 5% per annum, then the amount at his credit at the end of 3rd year will be:

Answer 1

step 1 :- find simple interest in first year
S.I = P × R × T/100
Let P = x , R = 5% and T = 1
∴ S.I = x × 5 × 1/100 = x/20
So, total amount after 1 year will be (x/20 + x) = 21x/20

Step 2 :- P = (21x/20 + x) = 41x/20 , R = 5% and T = 1
so, S.I = 41x/20 × 5 × 1/100 = 41x/400
Total amount after 2 years = 41x/400 + 41x/20 = 861x/400

Step 3 :- P = (861x/400 + x) =1261x/400 , R = 5% and T = 1
S.I = 1261x/400 × 5 × 1/100 = 1261x/8000
So, total amount after 3 years = 1261x/8000 + 1261x/400
= 26481x/8000

Hence, ansert is 26481x/8000 Rs.

Answer 2

Solution:-

given by:-

p = x rs
r = 5%
t = 1 year
1st year S.i
$s.i = \frac{x \times 5 \times 1}{100} = \frac{5x}{100} = \frac{x}{20} \\ A = \frac{x}{20} + x = \frac{21x}{20}$
2nd year s.i
$p = \frac{21x}{20} + x = \frac{41x}{20} \\ r = 5\% \\ t = 1 \\ s.i = \frac{ \frac{41x}{20} \times 5 \times 1 }{100} = \frac{41x}{400} \\ A = \frac{41x}{400} + \frac{41x}{20} = \frac{41x + 820x}{400} = \frac{861x}{400}$
3rd year s.i
$p = \frac{861}{400} + x = \frac{1261x}{400} \\ r = 5\% \\ t = 1year \\ s.i = \frac{ \frac{1261x}{400} \times 5 \times 1 }{100} = \frac{1261x}{8000} \\ A = \frac{1261x}{8000} + \frac{1261x}{400} \\ = \frac{1261x + 25220x}{8000} = \frac{26481x}{8000}$
hence,
Rahim credit at the end of 3rd year will be =
$\frac{26481x}{8000}$
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