Question

What amount of interest will be received when Rs. 6000 is deposited in a bank for 2 years at the rate of 6% per annum, if 2% income tax should be paid to the bank? Find it.​

Answer 1

The amount of interest received when Rs. 6000 is deposited in a bank for 2 years at the rate of 6% per annum, after paying 2% income tax to the bank, is Rs. 720.