You deposited Rs. 100,000 in a Fixed deposit for five years. The rate of interest is 6 percent per
annum. Would you be able to buy a Rs. 150,000 bike using that money?
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Answer:
No, we need 20000 rs more.
Step-by-step explanation:
P = 100000 rs
R = 6%
T = 5 yrs
Simple interest = PRT/100
=100000*6*5/100
=30000 rs
total amount after 5 yrs = 100000+30000
130000 rs
so we need 20000 rs to buy a bike of 150000 rs.
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