Flash Education

Question

Sova debi deposited some amount of money in a bank at the rate of simple interest of 5.25% per annum. After 2 years she has got ₹ 840 as interest. Let us write by calculating the money she has deposited in the bank

Simple Interest

December 27, 2023

Answer

Here, Simple Interest (I) = ₹ 840

Rate (r) = 5.25%

Time (t) = 2 years

Principal (P) = $\frac{\text { Interest } \times 100}{\text { Rate } \times \text { Time }} \\$

= $\text { ₹ } \frac{840 \times 100}{5.25 \times 2}=\text { ₹ } \frac{840 \times 100 \times 100}{525 \times 2} \\$

= ₹ 40 × 200 = ₹ 8000

∴ She deposited ₹ 8000

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