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Question
If Pankaj deposits 1,50,000 rupees in a bank at 10 p.c.p.a. for two years, what is the total amount he will get from the bank?
Solution
Given:
Principal (P) = 1,50,000 rupees,
Rate of interest (R) = 10%
Time (T) = 2 years
Formula:
Total interest (I) = `("P"xx"R"xx"T")/100`
Solution:
I = `(1,50,000xx10xx2)/100`
= 30,000 rupees
Now, total amount = P + I
= 1,50,000 + 30,000
= 1,80,000 rupees
Hence, Pankaj will get the total amount of 180000 rupees from the bank.
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Fill in the blanks in the table.
| Principal | Rate of interest (p.c.p.a.) | Time | Interest | Amount |
| ...... | 5% | ...... | 6000 | 18000 |
Fill in the blanks in the table.
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| ....... | `2 1/2%` | 5 years | 2400 | ...... |
