Question

Mumtaz wants to earn Rs 500 in interest so she’ll have enough to buy a cycle. She puts Rs 2000 into an account that earns 21212% interest. How long will she need to leave her money in the account to earn Rs 500 in interest?​

Answer 1

Answer:

Total money with Razia = Rs 500 Razia wants a change for Rs 500 in the form of 100 rupee notes. Number of 100 rupee notes that Razia will get = 500 ÷ 100 = 5

(b) Total money with Razia = Rs 500 Razia wants a change for Rs 500 in the form of 50 rupee notes. Number of 50 rupee notes that Razia will get = 500 ÷ 50 = 10

(c) Total money with Razia = Rs 500 Razia wants a change for Rs 500 in the form of 20 rupee notes. Number of 20 rupee notes that Razia will get = 500 ÷ 20 = 25

(d) Total money with Razia = Rs 500 Razia wants a change for Rs 500 in the form of 5 rupee notes. Number of 5 rupee notes that Razia will get = 500 ÷ 5 = 100

Answer 2

Answer:

10 years

Step-by-step explanation:

Interest = Rs 500

Principal = Rs 2000

Rate = 2.5%

We need to find T.

We know,

I =  P T R/ 100

500 =  2000 × T × 2.5/ 100

Hence

T = 10 years