Reetu deposits ₹7000 in a saving account. The bank pays interest at the rate of 6% per year. What amount can reetu get after 5 years?
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Reetu deposits ₹7000 in a saving account. The bank pays interest at the rate of 6% per year. What amount can reetu get after 5 years?
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Hey Mate,
Here's your answer :-
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=> Principal = 7000 Rs
=> Rate = 6%
=> Time = 5 years
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=> S.I = PRT / 100
=> S.I = 7000 × 6 × 5 / 100
=> S.I = 70 × 6 × 5
=> S.I = 2100
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=> Amount = S.I + P
=> Amount = 2100 + 7000
=> Amount = 9100
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[tex]additional \: information[/tex]
S.I = PRT / 100