Question

You have deposited 1000 in the
bank. There is a 7% interest on it
every year. How much money will
you have after 5 years?​

Answer 1

Answer:

350

Step-by-step explanation:

100*7*5/100 = 35000/100 =350

Answer 2

Step-by-step explanation:

Principle = 1000

Rate of interest = 7%

Time = 5 years

So,

S. I = $\frac{p\times r \times t} {100}$

= $\frac{1000\times 7 \times 5} {100}$

= $350$

Now,

Amount = si + p

= 350+1000

= 1350

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