Question

Mr.pankaj deposited a sum of rs.500 in a bank at the rate of 12%per year.how much interest would he get at the end of 4years?

Answer 1

Answer:

240 Rs interest

Step-by-step explanation:

Total amount=500

Rate=12%

Time=4years

Interest=(p*t*R)/100

=(500*4*12)/100

= 5*4*12

=240 Rs

Answer 2

Answer:

The correct answer will be ₹240 according to Simple Interest and according to Compound Interest it will be ₹12, 95,50.