Question

Mr Sanjay deposited 15000 in the bank for his five year old daughter as he wishes to give his daughter came out of 20000 on 13th birthday at what rate of interest so the money be invested​

Answer 1

Solution :-

→ sum deposited by Mr. sanjay = Principal = Rs.15000

→ sum got by her daughter from bank = Amount = Rs.20000

→ Time period = (13th birthday) - (Present age of daughter) = 13 - 5 = 8 years.

→ Rate of interest = Let R% per annum.

So,

→ interest received = Amount - principal = 20000 - 15000 ° Rs.5000

Putting values in SI formula now,

→ SI = (P * R * T) / 100

→ 5000 = (15000 * R * 8) / 100

→ 5000 = 150 * 8 * R

→ 5000 = 1200R

→ R = (50/12)

→ R = (25/6) % per annum. (Ans.)

Answer 2

Step-by-step explanation:

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