Ram deposits Rs.5000 in a bank at a rate of 5%. How much money will he get at the end of 8
years? Note: Use Simple Interest
(A) Rs. 2000
(B) Rs. 7000
(C) Rs. 3000
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Answer:
he will get ₹7000 at the end of 8 years
Step-by-step explanation:
he gets 5% for 1 year=5000+5%=5000+250 as 5% of 5000 is 250=5250 now as he gets 250 as interest for 1 year to find 8 years interest we have to 250*8=₹2000 now the amount that he will get is=₹5000+₹2000=₹7000
the amount Ram will get after 8 years is ₹7000.
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