Question:
30. A man deposited Rs 10000 in a bank at the rate of 5% simple interest annually. Find the amount in 15th year since he deposited the amount and also calculate the total amount after 20 years.
Answer:
Given sum = 10000
Rate of interest = 5%
Now amount in 15th year = 10000 + SI for 15 years
= 10000 + (10000*5*15)/100
= 10000 + 100*75
= 10000 + 7500
= 17500
2. Now amount after 20 years = 10000 + (10000*5*20)/100
= 10000 + 100*100
= 10000 + 10000
= 20000
Not what you are looking for? Go ahead and submit the question, we will get back to you.
