Question

Shrikant deposited Rs. 20,000 for 3 years at 8 p.c.p.a.in a savings bank account. What is the total interest he received at the end of the period?​

Answer 1

Answer:

Step-by-step

step=1 = SI= PRT/100 = 20000*8*1/100.

ANS=1600

(AMOUNT=P+SI)          

SO 20000+1600=21600

FOR 2 YEARS = SI= PRT/100

= 21600*8*1/100 = 1728

SI= ANS=1728  

(AMOUNT=P+SI)

=21600+1728 = 23328

AMOUNT=23328

FOR THRID YEARS = SI = PRT/100

23328*8*1/100 = 186560/100 = 1865.60

SI=1865.62

AMOUNT = 2098.90

SUM OF ALL THE AMOUNT =21600+23328+2098.90 =2548.18

ANS=2548.16