Question

Nizar saves Rs 4500 in him bank account. The bank promises to give him interest of
Rs 500 at the end of one year. How much interest will he earn at the end of first year and
second year?​

Answer 1

Answer : Rs. 550 ✔✔

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Solution :

Given that :

Principal = Rs. 4500

Time = 1 Year and

Simple Interest = Rs. 500

As we know that :

S. I. = (P×R×T)/100

=> 500 = (4500×R×1)/100

=> R = 500/45 = 100/9 = 11 1/9%

At the end of second Year Nizar get the Interest :

Principal = 4500 + 500 = Rs. 5000

Interest at the end of second year = (5000 × 11 × 1)/100

=> Interest = Rs. 550 ✔

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I hope it will help you ☺

Fóllòw Më ❤