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 ?

Answer 1

Given:
Principal (P) = 150000 rupees,
Rate of interest (R) = 10%
Time (T) = 2 years
Total interest (I) = $\frac{P\times R\times T}{100}$
$=\frac{150000\times 10\times 2}{100}$
= 30000 rupees
Now, total amount = P + I
= 150000 + 30000
= 180000 rupees
Hence, Pankaj will get the total amount of 180000 rupees from the bank.