Question

Priyanka deposited Rs.6500 in a bank which pays 9% per annum interest. She withdraw Rs.1250 after the end of the first year. What amount will she get after three years ?

Answer 1

Principle$=6500$

Rate$=9\%$ per annum

Interest after $1$ year

$=\frac{PRT}{100}=\frac{6500\times 9\times 1}{100}=585$Rs.

$\Rightarrow$ Total Amount$=6500+585=7085$ Rs.

Withdrawal after $1$ year$=12500$

$\Rightarrow$ Remaining $=7085-1250=5835$Rs.

Total after next $2$ years

Amount$=5835{(1+\frac{9}{100})}^2=6932.56$Rs.

$\Rightarrow$ Amount she will get after $3$ years$=6932.56$Rs.