shivam deposited a sum of ₹500 in his bank on 25 august. On 17 october, he withdrew whatever interest had accrued in his account, with interest, on 29 december. What sums did he recieve on these two dates if the bank paid an interest of 5% per annum
Answers
Answer:
Rs 105
Rs 404
Step-by-step explanation:
Principle = Rs 500
Rate of ineterest = 5% per annum
= 5/365 % Per Day
= 1/73 % Per Day
Days from 5 Aug to 17 Oct = 26 + 30 + 17 = 73
Interest = 500 * (1/73) * 73 /100 = 5 Rs
Amount Withdrawn = 5 + 100 = Rs 105
Amount Left = 500 - 100 = Rs 400
17 Oct to 29 dec = 14 + 30 + 29 = 73 Days
Interest = 400 * (1/73) * 73/100 = Rs 4
Amount witdrawn = 400 + 4 = Rs 404
Step-by-step explanation:
Answer:
Principle = Rs 500
Rate of interest = 5% per annum
= 5/365 % Per Day
= 1/73 % Per Day
Days from 5 Aug to 17 Oct = 26 + 30 + 17 = 73
Interest = 500 * (1/73) * 73 /100 = 5 Rs
Amount Withdrawn = 5 + 100 = Rs 105
Amount Left = 500 - 100 = Rs 400
17 Oct to 29 dec = 14 + 30 + 29 = 73 Days
Interest = 400 * (1/73) * 73/100 = Rs 4
Amount witdrawn = 400 + 4 = Rs 404
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