A man deposited Rs 10000 in a bank at the rate of 5% simple interest annually. Find the amount in `15^(t h)` year since he deposited the amount and also calculate the total amount after 20 years.

Answer

N/a

Explanation

Amount deposited in 1st year in account `= Rs 10000`
At the beginning of second year
Amount in the account `= Rs 10000 + Rs (10000xx5xx1)/(100)=Rs 10500`
Similarly, amount in the account at the beginning of third year = Rs 10500+ Rs 500 = Rs 11000
The series so formed : 10000, 10500, 11000,...
Here a =10000, d= 10500-10000=500
Amount deposited in 15th year =`a+(n-1)d`
`=10000+(15-1)xx500= Rs 17000`
Amount deposited after 20 years i.e., in 21st year `=a+(21-1)d`
`=10000+20xx500= Rs 20000`