Mr. Sanjay deposited ₹ 1500 in the bank for his five- year old daughter as he wishes to give his daughter the amount of ₹ 21000 on her thirteenth birthday. At what rate of interest should the money be invested ?
Answers
Answered by
7
Answer:
5%
Step-by-step explanation:
P=15000
SI=21000-15000=6000
T=(13-5)=8yrs
R=100×SI/P×T
R=100×6000/15000×8
= 600000/120000
=5%
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Answered by
4
Answer:
5%
Step-by-step explanation:
P=15000
SI=21000-51000
=6000
T=(13-5)yrs
=8 yrs
R=100×SI/P×T
R=100×6000/15000×8
=600000/120000
=5%p.a
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