Question

Mahesh deposit rupees 8650 in a bank at a rate of 6 p.c.p.a how much money will he get at the end of the year in all?

Answer 1

Simple interest = principle ×time× rate ÷1000
therefore here
simple interest= 8650 × 6 ÷ 100
SI = 51900÷ 100
SI = 519
therefore simple interest is rupees 519

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Answer 2

He will get Rs.9169 at the end of the year in all.

Step-by-step explanation:

Principal = Rs.8650

Rate of interest = 6%

Time = 1 year

No. of compounds per year = 1

Formula :$A = P(1+r)^t$

$A = 8650(1+0.06)^1$

$A=Rs.9169$

Hence He will get Rs.9169 at the end of the year in all.

#Learn more:

A man deposited rupees 300 for 2 years with simple interest in a bank at the rate of 10 p.c.p.a. how much money will he get back after 2 years?​

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