Question

Shikha deposit rupees 2000 in a bank which pays 6% simple interest she withdrew rupees 700 at the end of the first year what will be her balance after 3 years

Answer 1

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Answer 2

P=2000 rupees    R=6% T=1 year    Simple interest at the end of first year=(2000×6×1)÷100=120 rs     then 700 rs is withdrawn so the principle of second year is=(2000+120)-700=1420 rs now simple interest is= (1420×6×2)÷100=159.04 rs now the principle at the third year=1590.40 rs .