Question

javed deposited 12000rup at 9 p.c.p.a in a bank for same years and withdrew his interest every year. At the end of the period ,he had received altogether 17400rupees for how many years had he deposited this money? with explanation?

Answer 1

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Answer 2

So at the end of the period Javed got 17400. This means he got 12000 which he had deposited and 5400 extra as interest.

Now I assume that he had deposited the money at simple Interst.

So his Interest came to be 5400.

According to your question, every year he gets 9 % of the principle as Interest. 9 % means he is getting 1080 Rs every year.

So if he is getting 1080 Rs every year, Then in how many years will he get 5400 Rs ?

Let's just divide 5400 by 1080 .

5400÷1080 = 5 years ....

Answer.

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