Ram deposits 1 4000 in a Post-office which offers him 5% p.a. as interest. What amount will he
get from the Post-office after 5 years?
Answers
Answered by
2
Step-by-step explanation:
simple
P = 14000
R= 5%
T = 5yrs
Si = P*R*T/100
Si = 14000*5*5/100
Si = 140*5*5
Si = 3500
Total amount = P + Si
= 14000 + 3500
= 17500 ans
Answered by
5
Step-by-step explanation:
Amount deposited every month, P= 500
Number of months, n=5×12=60 months
Rate of interest, r=7
2
1
% =
2
15
%
Total deposit made =Pn=500×60
= 30,000
Period for recurring deposit, N=
12
1
[
2
n(n+1)
] years
=
24
1
×60×61=
2
305
years
Interest, I=
100
PNr
=500×
2
305
×
2×100
15
= 5,718.75
Total amount due =Pn+
100
PNr
=30,000+5,718.75
= 35,718.75
Similar questions