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Current economic conditions demand that ...

Current economic conditions demand that we not only cut jobs and prices but also reduce the rate of interest on PF deposits.

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A person deposited a principal of Rs3000 in a fixed depoosit scheme, in a bank under this condition that the principal will amount double at the end of 6 years. Find the rate of simple interst in percent per annum of the fixed deposite scheme. Due to special circumstance, the person have forced to withdraw all of his deposited money 2 years before the term of condition of period of time and so that the bank gave him interest at a rate of 5% less than the previous. Determine the amount of money which the person will get back from the bank.

Puri had invested a certain sum of money in a bank at 4.5% per annum. The bank reduced the rate of interest by 0.5% p.a. Puri withdrew ₹4,000 from his account. At the end of the year, the interest he got was ₹200 less than what he would have got had the bank not reduced the interest rate and he had not withdrew ₹4000 . Find the original deposite.

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