Tharun makes a deposit of Rupees two lakhs in a bank for $5$ years. If the rate of interest is $8$ % per annum, find the maturity value.

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Solution

Principal deposited $P =$ $2, 00, 000$ , $n = 5$ years, $r = 8$ % p.a.
Interest $= \frac{P n r}{100} = 200000 \times 5 \times \frac{8}{100}$
$=$ $80, 000$
$∴$ Maturity value after $5$ years $= 2, 00, 000 + 80, 000 =$ $2, 80, 000$ .

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Tharun makes a deposit of Rupees two lakhs in a bank for 5 years. If the rate of interest is 8% per annum, find the maturity value.

Principal deposited P= 2,00,000, n=5 years, r=8% p.a.Interest =Pnr100=200000×5×8100 = 80,000∴ Maturity value after 5 years =2,00,000+80,000= 2,80,000.

Tharun makes a deposit of Rupees two lakhs in a bank for $5$ years. If the rate of interest is $8$ % per annum, find the maturity value.

Principal deposited $P =$ $2, 00, 000$ , $n = 5$ years, $r = 8$ % p.a.
Interest $= \frac{P n r}{100} = 200000 \times 5 \times \frac{8}{100}$
$=$ $80, 000$
$∴$ Maturity value after $5$ years $= 2, 00, 000 + 80, 000 =$ $2, 80, 000$ .