Question

Kashi received ₹ 5200 for his money deposited in a bank for one year. If the rate of simple interest was 4%,how much did he deposit in bank?

Answer 1

Step-by-step explanation:

It will help.............. He deposited ₹5000

Answer 2

Given:-

• Initial balance = ?
• Amount = ₹ 5, 200
• Rate of interest = 4%
• Time period = 1 years

To find:-

• The initial amount

Solution:-

1. Simple interest, SI = (P × I × T)/100
2. Amount = P(1+it)  

Where,

• P is the principle amount
• i is the rate of interest
• n is the number of years

So we have Amt, r, t

Substitute those values to the equation #02

Amount = P(1+it)  

5, 200 = p(1 + 4/100 × 1)

5, 200 = p(1 + 0.04)

5, 200 = p(1.04)

p = 5, 200 ÷ 1.04

p = 5, 000

Therefore, the initial investment is ₹ 5, 000