BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Arif invested RM 4, 500 at 10.5% simple interest in a bank. He withdrew RM 2, 500 from the account 3 years later. How much was left in the account?
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RM 5, 917.00
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RM 2, 500.00
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RM 3, 417.50
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RM 4, 000.00
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Explanation:
Detailed explanation-1: -Ans Amount after 5 years = Rs. 16105. 1.
Detailed explanation-2: -500/-for 3 years at simple interest at 5% per annum. ∴ The amount is Rs. 575.
Detailed explanation-3: -∴ The amount of Rs. 500 will become Rs. 625 at the rate of 5% per annum in 5 years.
Detailed explanation-4: -Hence, the simple interest on the given amount is Rs 1500.
There is 1 question to complete.