b) A certain amount was deposited into a bank account having an interest rate of 5% if the total amount after 4 years was 21,500. how m

Question

b) A certain amount was deposited into a bank account having an interest rate of 5%
if the total amount after 4 years was 21,500. how much was the amount deposited
initially? For the same initial amount, how should the interest rate increase such
that the simple interest would amount to 400?​

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Samantha 1 week 2021-09-15T00:33:20+00:00 2 Answers 0 views 0

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    0
    2021-09-15T00:34:52+00:00

    Answer:

    4700 Is the answer of this Question

    0
    2021-09-15T00:35:06+00:00

     i) Let \: the \: amount \: deposited = Rs \:P

     Rate \:of \: interest (R) = 5\%

     Time (T) = 4 \%

     Amount (A) = Rs \: 21500

     P\Big( 1 + \frac{TR}{100}\Big) = 21500

     \implies P\Big( 1 + \frac{4\times 5}{100}\Big) = 21500

     \implies P\Big( 1 + \frac{1}{5}\Big) = 21500

     \implies P \times \frac{6}{5} = 21500

     \implies P = 21500 \times \frac{5}{6}

     \implies \green {P = Rs\:17916.66 }

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