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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.
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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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| 03/04/2006 | B/F | 4000.00 | ||
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Fill in the blanks in the table.
| Principal | Rate of interest (p.c.p.a.) | Time | Interest | Amount |
| ...... | 6% | 4 years | 1200 | ...... |
