Question

PLEASE HELP

A bank is offering 2.5% simple intrest on a savings account if 5,000 is deposited what is the balance in a year​?

Answer 1

125 dollars a year!!

Should be correct! :)

Answer 2

The principal amount is 5000 dollars = 3, 70,000 rupees (5000 dollars x 74 Rupees)

Rate = 2.5%

Time = 1 year

Now, on putting the values given in the formula

S.I.= 9,250 Rupees

Now we convert it into dollars by diving 9,250 rupees by 74 rupees.

We get,

9250/74 = 125 dollars

Explanation: