Question

Neha deposits + 3,000 in a savings bank account. The bank pays interest at the rate of 4% per annum. What amount can Neha get after 2 years?​

Answer 1

Answer:

Mohan has a recurring deposit account in a bank for 2 years at 6% p.a. simple interst. If he gets rs. 1200 as interst at the time of maturity. find:

(i) The monthly installment

(ii) the amount of maturity.

MEDIUM

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ANSWER

we know the formula for simple interest;

S.I=

100

P×T×R

let the amount he invested be Rs.P.

1200=

100

p×2×6

P=10000

1. monthly installment:

=

100

10000×

12

1

×6

=50

hence the monthly installment is Rs.50

2. amount of maturity:

=10000+1200=11200

its just the extra amount obtained other than his deposit that is Rs.11200

Step-by-step explanation:

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