Question

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

Answer 1

Answer:

Step-by-step explanation:

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Answer 2

The nitial deposit of Kapil is 70000.

Given: Kapil deposited some amount in a bank for 7 and 1/2 years at the rate received rs 1,01,500 at the end of the term.

To find: We have to find the initial deposit.

Solution:

Let the initial deposit be p.

The time is

$7 \frac{1}{2} = \frac{15}{2}$

The rate of interest is 6%.

So, simple interest will be-

$p \times \frac{15}{2} \times \frac{6}{100} \\ = \frac{9p}{20}$

Thus Kapil will receive

$p + \frac{9p}{20} \\ = \frac{29p}{20}$

Given that Kapil received rs 1,01,500 at the end of the term. So, we can write-

$\frac{29p}{20} = 101500 \\ p = 3500 \times 20 \\ p = 70000$

So, the value of p is 70000.

Thus the principal amount or initial deposit of Kapil is 70000.