Question

mr mahapatra deposit rs48000in a bank for 5 years.if the bank paid interest at the rate of 8% per annum,how much amount will mrs mahapatra get back after 5 years?​

Answer 1

Given:

P = ₹48000

T = 5 years

R = 8% per annum

To find:

How much amount will Mr. Mahapatra will get back after 5 years?​

Solution:

According to Simple Interest:

$SI = \frac{P*T*R}{100} \\\\SI = \frac{48000*5*8}{100}$

SI = ₹19200

A = P + SI

A = 48000 + 19200

A = ₹67200

According to Simple Interest, amount received after 5 years is ₹67200.

According to Compound Interest:

$A = P(1 + \frac{R}{100} )^{T} \\\\A= 48000(1+ \frac{8}{100} )^{5}$

A = 48000(1 + 0.08)⁵

A = 48000(1.08)⁵

A = ₹70527.75

According to Compound Interest, amount received after 5 years is ₹70527.75

Answer 2

Answer:

rupees 67200 is the answer

Step-by-step explanation:

Principle = 48000

Time = 5yrs

Rate = 8%

simple interest = ?

formula for simple interest

Simple interest = principal x rate x time÷1

= 48000×8×5÷100

= 19200

formula for amount

= principal + simple interest

= 48000+19200

= 67200

therefore Mr mahapatra have to pay amount rupees 67200

Hope it helps you