InterviewSolution
Saved Bookmarks
| 1. |
Stephen invested Rs 10,000 in a savings bank account that earned 2% simple interest. Find the interest earned if the amount was kept in the bank for 4 years. |
|
Answer» Principal (P) = Rs 10,000 Rate of interest (r) = 2% Time (n) = 4 years ∴ Simple Interest I = \(\frac{pnr}{100}\) = \(\frac{10000\times4\times2}{100}\) = Rs 800 Stephen will earn Rs 800 |
|