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 ?
Answers
Answered by
208
Rate of interest is given as 6% and Principle amount as Rs2000
Interest after 1 year= P*R*T/100 = 2000*6*1/100 = Rs 120
Net amount at the end of first year= Principle+ interest-Amount withdrawn=2000+120-700= Rs 1420
For the next 2 years, simple interest will be paid at the rate of 6% on the amount of Rs 1420 which is = 1420*6*2/100 =Rs 170.40
Balance after 3 years= 1420+170.40=Rs 1590.40
Answered by
109
interest in the first yr=2000*1*6/100=120
so amt after one yr=2120
700 is paid back ,
so remaining amt is 1420
after two years interest will be 1420*6*2/100=170.4
so the balance will be 1420+170.4=1590.40
so amt after one yr=2120
700 is paid back ,
so remaining amt is 1420
after two years interest will be 1420*6*2/100=170.4
so the balance will be 1420+170.4=1590.40
chaurasia:
The answer 1590.40 is wrong..
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