Question

Sushil deposited ₹15000 in a bank for 4 years which pays 6%

interest per year. Find the amount he received after 4 years.​

Answer 1

Answer:

Here, 100% is ₹15000.

So, to find 6% interest, we have to do :

100% = ₹15000

1% = ₹15000 ÷ 100

    = ₹150

6% = ₹150 X 6

     = ₹900

This means that the bank pays Sushil ₹900 interest each year.

Therefore, to find the interest he receives in 4 years we have to do :

1 year = ₹900

4 years = ₹900 X 4

            = ₹3600

If you want to know how much total money he had after 4 years, here it is :

15000 + 3600 = 18600

Sushil had ₹18600 in his bank account after 4 years.