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Question
If Pankaj deposits 1,50,000 rupees in a bank at 10 p.c.p.a. for two years, what is the total amount he will get from the bank?
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Solution
Given:
Principal (P) = 1,50,000 rupees,
Rate of interest (R) = 10%
Time (T) = 2 years
Formula:
Total interest (I) = `("P"xx"R"xx"T")/100`
Solution:
I = `(1,50,000xx10xx2)/100`
= 30,000 rupees
Now, total amount = P + I
= 1,50,000 + 30,000
= 1,80,000 rupees
Hence, Pankaj will get the total amount of 180000 rupees from the bank.
RELATED QUESTIONS
A page from the savings bank account of Mrs Ravi is given below.
| Date | Particulars | Withdrawal (Rs.) |
Deposit (Rs.) | Balance (Rs.) |
| April 3rd 2006 | B/F | 6000 | ||
| April 7th | By cash | 2300 | 8300 | |
| April 15th | By cheque | 3500 | 11800 | |
| May 20th | To self | 4200 | 7600 | |
| June 10th | By cash | 5800 | 13400 | |
| June 15th | To self | 3100 | 10300 | |
| August 13th | By cheque | 1000 | 11300 | |
| August 25th | To self | 7400 | 3900 | |
| September 6th 2006 |
By cash | 2000 | 5900 |
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at the end of 30th September 2006 at 4.5% per annum interest. Hence, find the
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Virat opened a Savings Bank account in a bank on 16th April 2010. His pass book shows the following entries:
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Withdrawal (Rs.) |
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| April 16, 2010 | , By cash | - | 2500 | 2500 |
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| May 15th | By cash | 1600 | 6250 | |
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| January 1st, 2006 | B/F | - | - | 1270 |
| January 7th, 2006 | By Cheque | - | 2310 | 3580 |
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| July 15th, 2006 | By Clearing | - | 2630 | 5910 |
| October 18th, 2006 | To Cheque | 530 | - | 5380 |
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| December 6th, 2006 | To Cheque | 950 | - | 3240 |
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Fill in the blanks in the table.
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