Question

Shrikant desposited 85000rs for 2 years at 7 pcpa in a
Savings bank account what is the total interest he
recived at the end of period​

Answer 1

➤ Correct Question :-

Shrikant deposited ₹ 85000 for 2 years at 7 percent per annum in a savings bank account. What is the total interest he recieves at the end of period ?

➤ Given :-

Principle :- ₹ 85000

Time :- 2 years

Rate of interest :- 7%

➤ To Find :-

Total interest recieved at end of period..........

➤ Formula required :-

${ \large \tt \dashrightarrow \orange{ \boxed{ \tt \gray{ \dfrac{P \times R \times T}{100} }}}}$

➤ Solution :-

Simple interest :-

${ \tt \longrightarrow \dfrac{85000 \times 2 \times 7}{100} }$

$\tt \longrightarrow \dfrac{ \cancel{85000} \times 2 \times 7}{ \cancel{100}} = \boxed{ \tt 850 \times 2 \times 7}$

${ \tt \longrightarrow 850 \times 14 = \boxed{ \sf rs \: \tt \: 11900}}$

$\Huge\therefore$The interest recieved after the time period is ₹ 11900.

More to know...........

• Simple interest is the extra amount given when a person borrows some money from any person or bank. The person who gives money is known as lender. The person who takes money is known as borrower.
• Principle is the amount given at first from lender to borrower.
• Rate of interest is the extra amount to be given from borrower to lender, it is always written in percentage form.
• Time is given for the borrower to return the given money with the given interest.