Ramesh deposited $R s .7800$ in a bank which pays him $12 %$ p.a. What is amount which he receives after $3$ months.

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Solution

Amount Deposited $= 7800$
Interest $= 12 % p . a .$

After 3 months $= \frac{1}{4}$ Year

Now, For $1$ Year $\to 12 %$
For $\frac{1}{4}$ Year $\to \frac{12}{4} % = 3 %$

Hence, After 3 months he will get $= 7800 + \frac{3}{100} * 7800 = 7800 * \frac{103}{100} = R s . 8034$

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Ramesh deposited Rs.7800 in a bank which pays him 12% p.a. What is amount which he receives after 3 months.

Amount Deposited =7800Interest =12% p.a.After 3 months =14Year Now, For 1 Year →12%For 14 Year →124%=3%Hence, After 3 months he will get =7800+3100∗7800=7800∗103100=Rs. 8034

Ramesh deposited $R s .7800$ in a bank which pays him $12 %$ p.a. What is amount which he receives after $3$ months.

Amount Deposited $= 7800$
Interest $= 12 % p . a .$

After 3 months $= \frac{1}{4}$ Year

Now, For $1$ Year $\to 12 %$
For $\frac{1}{4}$ Year $\to \frac{12}{4} % = 3 %$

Hence, After 3 months he will get $= 7800 + \frac{3}{100} * 7800 = 7800 * \frac{103}{100} = R s . 8034$