Javed deposited 12000 rupees at 9 p.c.p.a. in a bank for some years, and withdrew his interest every year. At the end of the period, he had received altogether 17,400 rupees. For how many years had he deposited his money?

Asked by misarmayur | 11th Dec, 2018, 03:14: PM

Expert Answer:

Amount which is received by Javed is Rs. 17400 and he invested Rs. 12000 at 9% per annum.
Interest he received is 17400 - 12000 = Rs. 5400
Using formula
Pnr = 5400
12000 × n × 9/100 = 5400
n = 5 years
 

Answered by Sneha shidid | 12th Dec, 2018, 10:08: AM

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