Question

kartik deposited rs 2500 in a bank which pays 8%per annum. He withdrew rs 800 at the end of the first year. What will be his balance after 3 years
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Answer 1

..!!! Answer !!!...

☛ Given :

$\longrightarrow{Principal \:Amount = Rs. 2500}$

$\longrightarrow{Rate\: of \:interest/: = 8 \% per annum}$

$\longrightarrow{Time\: period\: =\: Rs. 800}$

$\Rightarrow{Amount\: withdrawed \:in \:the\: first\: year\: = \:Rs. 800}$

⭐ Required to find :

$\Rightarrow{\Large{Balance Amount }{\Leftarrow}}$

✐ Formula Used :

$\Rightarrow{\large{\boxed{Interest\: =\: \frac{Principal \times Time \times Rate}{100}}}}$

$\longrightarrow{\boxed{\large{\Rightarrow{\boxed{Amount = Principal + Interest}}}}}$

☞ Explanation :

➞ In the question it is given that Karthik deposited Rs. 2500 in a bank with some terms and conditions .

➞ So, he asked us to find the balance present in his account after 3 years .

➞ Solving this very simple , You should know the formula related to it

➞ Using the 1st formula we can find the Interest amount .

➞ Similarly, using 2nd formula we can find the Amount .

➞ Hence,

➞ First we have to solve this why values for 1 year .

➞ Using. the formulas we have to find the amount then we have to subtract Rs. 800 from it .

➞ By taking the the remaining amount as the principal we can find the Balance Amount after 2 years ( in total = 3 years ).

⚝ Solution :

• Principal Amount = Rs. 2500
• Time period = 3 years
• Rate of interest = 8%

➞ According to the first case ,

➞ The required values are ;

1. Principal Amount (P) = Rs . 2500
2. Time period (T) = 1 year
3. Rate of interest (R) = 8%

➞ Hence ,

The formula is ;

$\large{\color{blue}{\longrightarrow{\boxed{\boxed{ Interest \:= \: \frac{P \times T \times R}{100}}}}}}$

➞ Now, substitute the respective values ,

➞ On substituting we get ,

$\longrightarrow{ Interest \:= \: \frac{2500 \times 1 \times 8}{100}}$

$\longrightarrow{ Interest \:=\: \frac{20000}{100}}$

$\longrightarrow{ Interest \:=\: Rs. 200 }$

➞ Hence,

➞ Formula for finding Amount is

$\large{\Rightarrow{\boxed{\boxed{Amount = Principal + Interest}}}}$

➞ Therefore,

$\longrightarrow{Amount \:= \:2500 + 200 }$

$\implies{Amount\: =\: 2700 }$

➱ Balance for 1st year = Rs. 2,700

➱ Amount withdrawed = Rs. 800.

➱ Remaining Balance = 2700 - 800

= Rs. 1,900

➱ Hence,

➱ The principal amount is Rs. 1,900

➱ Now using this let's find the balance at the end of 3 years .

➱ So the required values are,

➞ • Principal Amount = Rs. 1,900

➞ • Time = 2 years ( because 1 year is been completed )

➞ • Rate = 8%

So,

$\longrightarrow{Interest \: = \: \frac{1900 \times 2 \times 8}{100}}$

$\longrightarrow{Interest \:= \: \frac{30400}{100}}$

$\longrightarrow{Interest \:=\: Rs. 304 }$

Hence,

$\longrightarrow{Amount \: = \: 1900 + 304 }$

$\implies{ Amount \: =\: Rs. 2,204}$

Therefore,

$\large{\color{red}{\longrightarrow{\boxed{\Rightarrow{\boxed{Total\: Balance\: =\: Rs. 2,204}}}}}}$

✅ Hence Solved .