Question

Ramesh deposit 7200 in a saving bank account which pays interest at the rate of 11 by 2% half yearly. How much interest will he get after 5 by 2 years?​

Answer 1

Answer:

Interest he will get after $\frac{5}{2}$ years  = Rs 1980

Step-by-step explanation:

Given,

Principal ( P ) = Rs 7,200

Rate ( R ) = $\frac{11}{2}$ %  for half year

               = 11 % per year

Time ( T ) = $\frac{5}{2}$ years

We know that:

Simple Interest ( S.I ) = $\frac{P*T*R}{100}$

                                  = $\frac{7200*11*5}{100*2}$

                                  = Rs 1980

Therefore,

Interest he will get after $\frac{5}{2}$ years  = Rs 1980