Pankaj deposited `₹`1,50,000 in a bank at 10 p.c.p.a. for two years. What total amount will be get from the bank at end of the period ?

Explanation

Here, P=`₹`1,50,000, R=10 p.c.p.a., T=2 years, A=?
First we find interest.
`I=(PxxRxxT)/100`
`=(150000xx10xx2)/100=30000`
A=P+I`
=`₹`(150000+30000)=`₹`1,80,000
Pankaj will get `₹`1,80,000.