Question

Javed deposited Rs.35,000 at 9 p.c.p.a in a bank for some years and withdrew his interest every year. At the end of the period, he had received altogether Rs.44,450. For how many years had he deposited his money? ​

Answer 1

GIVEN

• Principal (p) = ₹ 35,000
• Rate of interest (r) = 9 %
• Amount (A) = ₹ 44,450

TO FIND

• Time = t

SOLUTION

• SI = Amount - Principal
• SI = 44,450 - 35,000
• SI = ₹ 9,450
• (P×R×T)/100 = 9,450
• 35000 × 9 × t = 945000
• t = 945000/(35000×9)
• t= 3 year

• For 3 years he had deposited his money.