If Pankaj deposits Rs 1,50,000 in a bank at 10 p.c.p.a. for two years,

1.	If Pankaj deposits Rs 1,50,000 in a bank at 10 p.c.p.a. for two years, what is the total amount he will get from the bank?
Answer» Here, P = 150000, R = 10 p.c.p.a., T = 2 years ∴ Total interest = (P x R x T)/100 = (150000 x 10 x 2)/100 = Rs. 30000 ∴ Total amount = Principal + Total Interest = 150000 + 30000 = Rs 180000 ∴ Pankaj will receive Rs 180000 from the bank.

If Pankaj deposits Rs 1,50,000 in a bank at 10 p.c.p.a. for two years, what is the total amount he will get from the bank?

Answer»

Here, P = 150000, R = 10 p.c.p.a., T = 2 years

∴ Total interest = (P x R x T)/100

= (150000 x 10 x 2)/100

= Rs. 30000

∴ Total amount = Principal + Total Interest

= 150000 + 30000

= Rs 180000

∴ Pankaj will receive Rs 180000 from the bank.