A man deposited Rs 10000 in a bank at the rate of 5% simple interest annually. Find the amount in 15 th year since he deposited the amount and also calculate the total amount after 20 years.
It is given that the man deposited Rs 10000 in a bank. The rate of interest is 5 % annually.
Let the simple interest that the man pays be I .
The interest paid in each year is given by,
I = 5 100 × 10000 = 500 Rs .
Let the amount paid in first 15 years be I 1 and in first 20 years be I 2 .
The amount paid in first 15 years is given by,
I 1 = 10000 + ( 500 + 500 … + 14 times ) = 10000 + ( 500 × 14 ) = 10000 + 7000 = 17000 Rs .
The amount paid after 20 years is given by,
I 2 = 10000 + ( 500 + 500 … + 20 times ) = 10000 + ( 500 × 20 ) = 10000 + 10000 = 20000 Rs .
Thus, the amount paid in first 15 years is 17000 Rs . and after 20 years is 20000 Rs .
It is given that the man deposited Rs 10000 in a bank. The rate of interest is
Let the simple interest that the man pays be
The interest paid in each year is given by,
Let the amount paid in first 15 years be
The amount paid in first 15 years is given by,
The amount paid after 20 years is given by,
Thus, the amount paid in first 15 years is
