Question

Raju deposited rupees 10,000 with a finance company. What will be the interest and
the amount received by him after 4yrs if the rate of interest is 15% per annum?

Answer 1

Answer:

It is given that the man deposited Rs 10000 in a bank at the rate of 5% simple interest annually.

∴ Interest in first year =

100

5

×Rs10000=Rs500

∴ Amount in 15

th

year=Rs10000+

14times

500+500+...+500

=Rs.10000+14×Rs500

=Rs10000+Rs7000

=Rs17000

Amount after 20 years =Rs10000+

20times

500+500+...+500

=Rs10000+20×Rs500

=Rs10000+Rs10000=Rs20000

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Answer 2

Answer:

amount with simple interest : 16000

amount with compound interest : 17490.0625

Step-by-step explanation:

p = 10000

r = 15%

t = 4 years

Simple Interest

SI = (PXRXT)÷ 100

   = (10000X15X4)÷100

   = 6000

Amount = 10000+6000=16000

Compound Interest

Amount = P(1+R÷100)∧t

             = 10000(1+15÷100)∧4

             = 17490.0625