A child friendly bank announces a savings scheme for school children. They will give kidan banks to children Children have to keep their savings in it and the bank collects all the money once in a year. To encourage children savings, they give 6% interest if the amount exeeeds by? 10000, and other wise 5% Find the interest received by a school if they deposit is 9000 for one year
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Answers & Comments
Answer:
Amount deposited in the bank for one year is Rs. 9000, which is less than10000
So the rate of interest given by the bank,
r=
5
%
step by step:-
Principal amount,
P=
9000
Time,
t=
1
year
Simple interest
=
100
P×r×t
=
100
9000×5×1
= 90× 5= Rs.450
Verified answer
Step-by-step explanation:
Question :-
A child friendly bank announces a savings scheme for school children. They will give kidan banks to children Children have to keep their savings in it and the bank collects all the money once in a year. To encourage children savings, they give 6% interest if the amount exeeeds by? 10000, and other wise 5% Find the interest received by a school if they deposit is 9000 for one year.
[tex] \rule{300pt}{0.1pt}[/tex]
[tex]\mathbb\red{ \tiny A \scriptsize \: N \small \:S \large \: W \Large \:E \huge \: R}[/tex]
[tex] \rule{300pt}{0.1pt}[/tex]
Amount deposited in the bank for one year is Rs. 9000 , which is less than 10000.
So the rate of interest given by the bank, r=5 %.
Principal amount, P=9000
Time, t=1 year
Simple interest
[tex] \\ \rm=\frac{P \times r \times t}{100} [/tex]
[tex] \\ \rm =\frac{90 \cancel{00} \times 5 \times 1} {\cancel{100} }[/tex]
[tex] \\ \rm=90 \times 5 \boxed{\color{olive} \rm =R s .450 }[/tex]