Shobha Devi deposited some amount of money in a bank at the rate of simple interest of 5.25% per annum. after 2 years she has got rupees 840 as interest.let us wright by calculating the money she has deposited in the bank
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The simple interest formulae is :
(1+ni)C=Accumulated amount.
(1+2×0.0525)C=1.105C
Interest=1.105C-C=0.105C
840=0.105C
C=Rs 8000
(1+ni)C=Accumulated amount.
(1+2×0.0525)C=1.105C
Interest=1.105C-C=0.105C
840=0.105C
C=Rs 8000
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