Shikha deposited $ 2000 in a bank which pays 6% simple interest. She withdrew $ 700 at the end of the first year. What Will be her balance after 3 years.
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Answered by
18
Given, Rate of interest is 6% and the principle is 2000$.
We know that S.I = P * T * R/100
Interest after 1 year = 2000 * 1 * 6/100
= 120.
Amount with drawn at the end of the year = P + I - A
= 2000 + 120 - 700
= 1420.
Interest for the next 2 years = P * T * R/100
= 1420 * 2 * 6/100
= 170.40
Her balance after 3 years = 1420 + 170.40
= 1590.40.
Hope this helps!
We know that S.I = P * T * R/100
Interest after 1 year = 2000 * 1 * 6/100
= 120.
Amount with drawn at the end of the year = P + I - A
= 2000 + 120 - 700
= 1420.
Interest for the next 2 years = P * T * R/100
= 1420 * 2 * 6/100
= 170.40
Her balance after 3 years = 1420 + 170.40
= 1590.40.
Hope this helps!
rimikhan:
No dear answer wiil be 1576.
I think I am not wrong.
But answer is 1576
Answered by
3
1535 will be her balance after 3 years
No it's wrong.
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