Question

Shikha deposited Rs 2000 in a bank which pays 6% simple interest. She withdrew Rs 700 at the end of the first year. What will be her balance after 3 years ?​

Answer 1

Answer:

for first year :

I = (2000 * 6 *1)/100 = 120

amount = 2000+ 120=2120

money withdrawn = 700

money remaining = 2120-700 = 1420