Question

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

Answer 1

Answer:

Principal amount deposited (P) = Rs 2000

Time period (T) = 1 year

Rate of interest (R) = 6% p.a.

Interest after 1 year = P×R×T

------------

100

= 2000×6×1

-----------------

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After 1 year , amount withdrawn = Rs 700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 (P1) = Rs 2120 - Rs 700 = Rs 1420

Time period (T) = 2 years

Rate of interest (R) = 6% p.a.

Interest after 2 years =

100

P×R×T

= 100 1420×6×2

= Rs 170.40

Total amount after 3 years = Rs 1420 + Rs 170.40 = Rs 1590.40

Step-by-step explanation:

hope it helps u

please mark as brainlist