Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
6.4k views
in Bank and Simple Interest by (46.9k points)
closed by

Shrikant deposited Rs 85,000 for years at 7 p.c.p.a. in a savings bank account. What is the total interest he received at the end of the period?

1 Answer

+1 vote
by (47.6k points)
selected by
 
Best answer

Here, P = Rs 85000, R = 7 p.c.p.a., T = 2(1/2) years = 2.5 years 

∴ Total interest = (P x R x T)/100

= (85000 x 7 x 2.5)/100

= (85000 x 7 x 25)/(100 x 10)

= 85 x 7 x 25

= Rs. 14875

∴ The total interest received by Shrikant at the end of the period is Rs 14875.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

...