Question

On a certain money deposited in a bank account at 5% per annum, the interest paid after 3 years is 450. Find the money deposited in the account.​

Answer 1

Answer:

Interest=450

Rate=5%

Time=3years

Principal=?

Principal =(Interest×100)/(Rate×Time)

=(450×100)/(5×3)

=45000/15

=3000

The money deposited in the account was Rs 3000.

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