Question

Rahul deposits 5800 in a bank for 3 years which earns him an interest of 9.1%. What is the amount that he gets after 1 years ,2 years and 3 years?
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Answer 1

Answer:

1=356400

2=672800

3=1009200

Answer 2

1st Answer

First, we should find the simple interest.

$\sf \dashrightarrow SI = \dfrac{P \times R \times T}{100}$

$\sf \dashrightarrow \dfrac{5800 \times 91 \times 1}{100 \times 10}$

$\sf \dashrightarrow \dfrac{58 \times 91 \times 1}{1 \times 10}$

$\sf \dashrightarrow \dfrac{58 \times 91}{10}$

$\sf \dashrightarrow \cancel \dfrac{5278}{10} = 527.8$

Now, we can find the total amount.

Total Amount :

$\sf \dashrightarrow Simple \: Interest + Principle$

$\sf \dashrightarrow 527.8 + 5800$

$\sf \dashrightarrow Rs.6327.8$

2nd Answer

First, we should find the simple interest.

$\sf \dashrightarrow SI = \dfrac{P \times R \times T}{100}$

$\sf \dashrightarrow \dfrac{5800 \times 91 \times 2}{100 \times 10}$

$\sf \dashrightarrow \dfrac{58 \times 91 \times 2}{1 \times 10}$

$\sf \dashrightarrow \dfrac{58 \times 182}{10}$

$\sf \dashrightarrow \cancel \dfrac{10556}{10} = 1055.6$

Now, we can find the total amount.

Total Amount :

$\sf \dashrightarrow Simple \: Interest + Principle$

$\sf \dashrightarrow 1055.6 + 5800$

$\sf \dashrightarrow Rs.6855.6$

3rd Answer

First, we should find the simple interest.

$\sf \dashrightarrow SI = \dfrac{P \times R \times T}{100}$

$\sf \dashrightarrow \dfrac{5800 \times 91 \times 3}{100 \times 10}$

$\sf \dashrightarrow \dfrac{58 \times 91 \times 3}{1 \times 10}$

$\sf \dashrightarrow \dfrac{58 \times 273}{10}$

$\sf \dashrightarrow \cancel \dfrac{15834}{10} = 1583.4$

Now, we can find the total amount.

Total Amount :

$\sf \dashrightarrow Simple \: Interest + Principle$

$\sf \dashrightarrow 1583.4 + 5800$

$\sf \dashrightarrow Rs.7383.4$

Hence, the amount gained after 1, 2 and 3 years are ₹6327.8, ₹6855.6 and ₹7383.4 respectively.