Question

The certain amount was deposited into a bank account having an interest rate of 5%. If the total amount after 4years was rupees 1500 how much was the amount depisited initially ? For the same intial amount how should the interest rate increase such that the simple interest amount to rupees 400?

Answer 1

Answer:

Step-by-step explanation:

let the principal be=x

rate of interest=5%

time=3 years

amount=1500

A=p(1+r/100)^t

1500=x(1+5/100)^3

1500=x*21/20*21/20*21/20

1500=x8000/9261

1500*8000/9261=x

1295.89=x