Malti has deposited certain sum in a bank at 3.5% per annum. The bank announces an increase in the interest rate by 1.5% p.a. Malti deposits an additional 3 2500 in the bank. The annual interest that Malti receives now is 3 221 more than what she would have got earlier. Find the original deposit.
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Original deposit = Rs 6400 if interest rate increased from 3.5% to 5% & 2500 deposited additionally & interest earned rs 221 more
Step-by-step explanation:
Let say initial Amount = 1000X Rs
Interest rate increased by 1.5% per annum
Extra interest earned on X = 1000X * 1.5 * 1 /100 = 15X Rs
Interest Rate = 3.5 + 1.5 = 5 %
Interest Earned on 2500 = 2500 * 5 * 1/100 = 125 Rs
15X + 125 = 221
=> 15X = 96
=> X = 96/15
=> 1000X = 1000 * 96/15 = 6400
original deposit = Rs 6400
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