sameer deposited 10000 in a bank which pay 8% simple intrest. he withdrew 2000 at the end of first year. what will be his balance after 4 years
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2
Answer:
11,616
Step-by-step explanation:
SI = P×T×R/100
(i) principle amount = 10,000
rate of interest = 8%
time = 1 year
=> 10000 × 1 × 8/100
= 800
amount after one year = 10000 + 800
=10800
withdrawal amount = 2000
=> 10800 - 2000
=8800
(ii) principle amount = 8800
rate of interest = 8%
time = 4 year
=> 8800 × 4 × 8/100
= 2816
amount after four year = 8800 + 2816
=11,616
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