Question

My bank pays me 4% simple interest. If I deposit one hundred rupees at the beginning of each year for five years, what would be my balance at the end of five years ?

Answer 1

4persent when we solve it it becomes 4 and 4×5=20. 20+100=120
Answer=120

Answer 2

100 evry year =500
500*4/100 = 20

500+20= 520

answer = 520