Simple interest=10%. draw the graph between sun deposited and simple interest . also find the interest on rupees 160
Answers
Answer:
Step-by-step explanation:A bank gives 10% Simple Interest (S.I.) on deposits by senior citizens. Draw a graph to illustrate the relation between the sum deposited and simple interest earned. Find from your graph (a) the annual interest obtainable for an investment of Rs 250. (b) the investment one has to make to get an annual simple interest of Rs 70.
Simple interest = P * r * T / 100
P = Principle
r = rate of interest = 10% per annum
T = Investment Years
Simple interest = P * 10 * T/100 = PT/10
Simple interest for one years = P/10
Interest for 10 years = (P/10)*10 = P
in 10 years interest = Principle
P = Rs 250
Interest for one year = 250/10 = Rs 25
Interest = Rs 70
70 = P/10
=> P = 700
Rs 700 to be invested to get Simple annual interest of Rs 70