shrikant deposited 85000 rupees for 2 ½ years at 7 p.c.p.a in a saving bank account. what is the total interest he received at the end of the period
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Step-by-step explanation:
Given:
Principal (P) = 85000 rupees,
Rate of interest (R) = 7%
Time (T) =2 ½ years
=5/2 years
=Total intrest (l) =P x R x T/ 100
=85000 x 7 x 5/ 2 x 100
=14875 rupees
Hence, Shrikant will receive 14875 rupees as interest from the bank.
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