Problem: What will be the deposited amount at initial stage, if it became to Tk. 33,500 at the end or 5 years, with a simple interest rate of 13.5% per annum? How many years is will take to become Tk. 40,600 of the same deposited amount?
View all: SOUTHEAST BANK LTD (PO) WRITTEN QUESTION (MATH) SOLVE | 2018
Correct Answer:
Explanation:
At 13.5% interest
Interest of 100 Tk. for 1 year = 13.5 Tk.
so, Interest of 100 for 5 years = (13.5 x 5) = 67.5 Tk.
so, Principal -interest = (100 + 67.5) = 167.5 Tk.
If principal interest Tk. 167.5 then principal amount = 100 Tk.
So, If principal interest ‘Tk. 1 then principal amount = $\frac{100}{167.5}$ Tk.
so, If principal interest 33,500 then principal amount = $\frac{100\times 33500}{167.5}$ = 20,000Tk.
Now principal, p = 20.000 TK
Interest. I = 40,600 – 20,000 = 20,600 Tk.
Interest rate, r= 13.5% = $\frac{13.5}{100}$
=> I = 7.6296
I=7.63
