Renu Bala deposits Rs 1200 now, Rs 800 two years from now and Rs 1000 five years fromnow.
If the savings bank's rate of interest in 5%, she will receive an amount of Rs X 10 years from now, where X is
Answers
Answer:
X=4170
Step-by-step explanation:
considering simple interest
simple interest= P×R×T÷100
P = 1200
R = 5
T = 10 years
SI = 1200×5×10÷100=600
P = 800
R = 5
T = 8 years (10-2)
SI = 800×5×8÷100=320
P = 1000
R = 5
T = 5 years (10-5)
SI = 1000×5×5÷100=250
total interest= 600+320+250= 1170
total deposit= 1200+800+1000=3000
total received= 3000+1170= 4170
so X = 4170
Answer:
Step-by-step explanation:
Our aim is to find the amount Renu Bala will receive after 10 years in the bank.
Lets consider s to be simple interest:
s = d × R × T ÷ 100
We know that deposit was d = 1200, also we know that it had rate of interest r = 5, and we are considering the amount of years t = 10.
Hence, we get:
s = 1200 × 5 × 10 ÷ 100 = 600
Now, if our d is equal to d = 800, r = 5 and T = 10 - 2 = 8, we get instead:
s = 800 × 5 × 8 ÷ 100 = 320
In the other hand, if considered r = 5, d = 1000 and t = 10 - 5 = 5 we have:
s = 1000 × 5 × 5 ÷ 100 =
250
Then, and since the total interest was equal to:
ti = 600 + 320 + 250 = 1170
And total deposit was:
td = 1200 + 800 + 1000 = 3000
Thus, the final amount received was:
T = 3000 + 1170 = 4170
Hence, we get that the amount they will receive after 10 years in the bank is equal to 4170.