Question

Sunil deposited some money in savings account. He got Rs 120 as simple interest after 5years. If the interest was calculated at the rate of 3% P.a. What was the amount that he deposited ?
PLZ ITS URGENT

Answer 1

$\sf \Large Solution!!$

Time (T) = 5 years

Rate of interest (R) = 3%

Interest = Rs 120

Interest = $\sf \dfrac{P\times T\times R}{100}</p><p>120 = [tex]\sf \dfrac{15P}{100}$

120 × 100 = 15P

15P = 12000

P = 12000 ÷ 15

P = Rs 800

The amount deposited = Rs 800