Question

srikant deposited ₹85,000 for 2/1-2 years at 7 p.c.p.a in a saving bank account what total interest will be receive at the end of the period ?
give me answer step by step ​

Answer 1

Solution

Here, P =

₹

85,000, R = 7 p.c.p.a., T=

2 1/2

years, I=? <br>

I=(PxxRxxT)/100

<br>

=(85000xx7xx2 1/2)/100

<br>

=850xx7xx5/2=₹14,875

<br> Shrikant will receive

₹

14,875 at the end of the period.

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