Question

Shikha deposited 2000 in a bank which pays 6% simple interest. She w
3700 at the end of the first year. What will be her balance after 3 years
lo interest​

Answer 1

Step-by-step explanation:

Given Principal amount P = Rs 2000 Time period

T = 1 year Rate of interest R = 6% p.a. We know that simple

interest = (P × T × R)/100 On substituting these values in

above equation we get SI = (2000 × 1 × 6)/100 = Rs 120 So

amount after 1 year = Principal amount + Interest = 2000

+ 120 = Rs 2120 after 1 year, amount withdrawn = Rs 700

Principal amount left = Rs 2120 − Rs 700 = Rs 1420 Time

period = 2 years Rate of interest = 6% p.a. We know that

simple interest = (P × T × R)/100 On substituting these

values in above equation we get SI = (1420 × 2 × 6)/100

Interest after two years = Rs 170.40 Total amount after 3

years = Rs 1420 + Rs 170.40 = Rs 1590.40Read more on

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