Javed deposited Rs.35,000 at 9 p.c.p.a in a bank for some years and withdrew his interest every year. At the end

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May 2023 1 4 Report

Javed deposited Rs.35,000 at 9 p.c.p.a in a bank for some years and withdrew his interest every year. At the end of the period, he had received altogether Rs.44,450. For how many years had he deposited his money?

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PharohX

GIVEN

Principal (p) = ₹ 35,000
Rate of interest (r) = 9 %
Amount (A) = ₹ 44,450

TO FIND

Time = t

SOLUTION

SI = Amount - Principal
SI = 44,450 - 35,000
SI = ₹ 9,450
(P×R×T)/100 = 9,450
35000 × 9 × t = 945000
t = 945000/(35000×9)
t= 3 year

For 3 years he had deposited his money.

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GIVEN

TO FIND

SOLUTION

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