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Question
If Rihanna deposits 1500 rupees in the school fund at 9 p.c.p.a for 2 years, what is the total amount she will get?
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Solution
Given:
Principal (P) = 1500 rupees,
Rate of interest (R) = 9%
Time (T) = 2 years
Formula:
Total interest (I) = `("P"xx"R"xx"T")/100`
Solution:
I = `(1500xx9xx2)/100`
= `27000/100`
= 270 rupees
Now, total amount = P + I
= 1500 + 270
= 1770 rupees
Hence, Rihanna will get the total amount of 1770 rupees.
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