Mr. Singh deposited ₹ 50000 as a fixed deposit in state bank of India at 11.5% per annum. If 25% is deducted as loan amount on the interest earned, how much interest will be get annually?
Answers
Rs 4312.5 interest Mr. Singh will get annually , if 50000 is deposited at 11.5% , but 25% is deducted on amount of interest.
Step-by-step explanation:
Mr. Singh deposited ₹ 50000 as a fixed deposit in state bank of India at 11.5% per annum
P = 50000
R = 11.5 %
T = 1 Year
Interest = P * R * T /100
=> Interest = 50000 * 11.5 * 1 /100 = Rs 5750
25% is deducted = (25/100) * 5750 = Rs 1437.5
Interest Received = 5750 - 1437.5 = Rs 4312.5
Rs 4312.5 interest Mr. Singh will get annually
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Mr.Singh deposited Rs 50,000 in SBI.
Principal amount(P)= Rs 50,000
Rate of interest(R)=11.5%
Time(T)= 1 year
Interest amount = P*R*T/100
= 50000*11.5*1/100
= 5750
Since 25% of interest amt is deducted = 25*5750/100
= 1437.5
Therefore, the amt of interest received by Mr. Singh annually
= 5750-1437.5
= 4312.5