Welcome to Westonci.ca, your one-stop destination for finding answers to all your questions. Join our expert community now! Experience the ease of finding accurate answers to your questions from a knowledgeable community of professionals. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.
Sagot :
6,800 to get a total interest of Rs 6,800 and keep the balance for 3 years.
What is meant by total interest?
- Total interest is the sum of all interest payments made during the course of an account or loan, including compounded amounts on accumulated interest that has not yet been paid.
- The equation [Total Loan Amount] = [Principle] + [Interest Paid] + [Interest on Unpaid Interest] can be used to calculate it.
- Under Section 24, you may deduct up to Rs 2 lakh from your total income for the interest component of the EMI you paid during the year.
How long should she keep the remaining amount to get a total interest of Rs 6,800 from the beginning:
The rate of 8% p.a. in her saving account.
20,000 at 8% interest for 2 years:
= 20,000*2*8/100
= 3200
5000 was withdrawn after 2 years and earned interest.
After 2 years, the new principal:
= 20000- 5000
=15000
She needs to get interested of 6800–3200 =3600 for the next N years.
N= 100* I /PR
= 100*3600/(15000*8)
=3
6,800 to get a total interest of Rs 6,800 and keep the balance for 3 years.
To learn more about total interest, refer to:
https://brainly.com/question/13005100
#SPJ9
Sajina should keep the remaining amount for 3 years to get a total interest of Rs 6,800 from the beginning.
What is the formula for total interest?
For the principal [tex]P[/tex] and the rate of interest [tex]r\%[/tex] per annum, the total interest after [tex]t[/tex] years is given by the formula: [tex]I=\dfrac{Prt}{100}[/tex].
Given that Sajina deposited Rs 20,000 at the rate of 8% p.a. in her savings account.
So, [tex]P=20,000[/tex] and [tex]r=8[/tex].
Thus, after t=2 years the total interest would be
[tex]I=\dfrac{Prt}{100}\\\Longrightarrow I=\dfrac{20000\times 8\times 2}{100}\\\therefore I=3200[/tex]
So, the total interest after 2 years would be Rs 3,200.
Given that Sajina withdrew Rs 5,000 and the total interest of 2 years.
So, the new principal will be [tex]P'=20,000-5,000=\test{Rs}\hspace{1mm}15,000[/tex].
The total interest she wanted to gain is Rs 6,800. She had already gained Rs 3,200.
so, the remaining interest [tex]I'=6,800-3,200=\text{Rs}\hspace{1mm}3,600[/tex].
Let the required time be [tex]t'[/tex] years after how many years she got a total interest of Rs 6,800 from the beginning.
For principal [tex]P'=15,000[/tex], rate of interest [tex]r=8\%[/tex]; the total interest after [tex]t'[/tex] years would be [tex]I'=\dfrac{P'rt'}{100}=\dfrac{15000\times 8\times t'}{100}=1200t'[/tex]. But given that [tex]I'=3600[/tex].
So, we must have
[tex]1200t'=3600\\\Longrightarrow t'=\dfrac{3600}{1200}\\\therefore t'=3[/tex]
Therefore, Sajina should keep the remaining amount for 3 years to get a total interest of Rs 6,800 from the beginning.
To learn more about total interest, refer: https://brainly.com/question/13005100
#SPJ9
We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.
