Question

kapil deposited some amount in a bank for 7 1/2 year at the rate of 6% p.a. simple interest ,kapil Receive rs 1,01,500 at the end of the term . compute initial deposit of kapil​

Answer 1

check it out above for step by step explanation.

Answer 2

Given: Kapil deposited some amount in a bank for 7 1/2 year at the rate of 6% p.a. simple interest, Kapil receive Rs. 1,01,500 at the end of the term.

To find: The initial deposit of Kapil​.

Solution:

The simple interest of a principal amount is calculated using the following formula.

$S.I. = \frac{P*R*T}{100}$

Here, P is the principal amount deposited, R is the rate of interest and T is the time period in years.

The amount received at the end of the time period is calculated using the following formula.

$A = P + S.I.$

$A = P + \frac{P*R*T}{100}$

In the given question, the amount is Rs. 1,01,500 and the time period is 7 1/2 years which is 7.5 years.

$101500 = P + \frac{P*6*7.5}{100}$

$101500 = 1.45 P$

$P = 70000$

Therefore, the initial deposit of Kapil​ was Rs. 70000.