Question

Anil deposited Rs. 20,000 for saving as a fixed deposit in a bank at 10% per annum. Find the amount he will get after 5 years. What are the benefits of savings?

Answer 1

principal=20000

rate of interest=10%

time=5years

simple interest=p×r×t

simple interest=20000×10/100×5-10000.

amount=p+I

20000+10000=30000

Image below: