Question

Mr Kannan had deposited ₹2,500 in a bank at 12% per annum. After 7/2 years, he withdraws this amount. Out of this money, he wants to buy a dressing table costing ₹4,000. How much more money does he need...?????​

Answer 1

Answer:

Their SI will be RS.1050 and the formula of amount is p+SI so their amount is 3550 . After that we will subtract the cost of dressing table from amount and the answer will be 450,hence Mr.khanan needs 450more money

Answer 2

Mr kannan needs Rs 450 more to buy a dressing table costing Rs 4,000

Solution:

Given that,

Mr Kannan had deposited ₹2,500 in a bank at 12% per annum

After 7/2 years, he withdraws this amount

Use the simple interest formula to calculate interest

$Interest = \frac{p \times n \times r}{100}$

Where,

p is the principal

n is the number of years

r is the rate of interest

From given,

p = 2500

r = 12 %

n = 7/2

Therefore,

$Interest = \frac{2500 \times 7 \times 12}{2 \times 100}\\\\Interest = 1050$

Amount withdrawn = principal + interest

Amount withdrawn = 2500 + 1050 = 3550

Out of this money, he wants to buy a dressing table costing ₹4,000

Money needed more = 4000 - 3550 = 450

Thus he needs Rs 450 more to buy a dressing table costing Rs 4,000

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