Question
A man deposits Rs. 25,000 at a simple interest rate of
8% per year. What amount will he receive after 5 years?Solution
ATQ,
Simple interest = 25000 × (8/100) × 5 = 25000 × 0.40 = Rs. 10,000
Amount = 25000 + 10000 = Rs. 35,000
(A) to ensure economic stability
(B) interest rates may be adjusted
(A) the central bank is monitoring inflation rates,
(i) since
(ii) as
(iii) however
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