A person deposited ₹2,500

A person deposited ₹2,500 in a bank that pays 8% simple interest. He withdrew ₹1,000 (from amount) at the end of the first year. What will be his balance after 4 years?
एक व्यक्ति ने एक बैंक में ₹ 2,500 जमा किए, जो उसे 8% की दर से साधारण ब्याज देता है। उसने पहले वर्ष के अंत में ₹ 1,000 (राशि में से) निकाल लिए। 4 वर्ष बाद उसका बैलेंस (शेष) क्या होगा?

₹2,018 ₹2,108 ₹2,280 ₹2,480

Detailed Solution & Logic

Correct Answer:

₹2,108

Step 1: Interest for first year on ₹2500 at 8%
$ SI1 = \frac{2500 \times 8 \times 1}{100} = 200 $
Amount after 1 year = 2500 + 200 = 2700
After withdrawal of ₹1000, balance = 2700 - 1000 = 1700
Step 2: Interest for next 3 years on ₹1700 at 8%
SI2 = $ \frac{1700 \times 8 \times 3}{100} = 408 $
Final balance = 1700 + 408 = 2108
Answer = ₹2108

Detailed Solution & Logic

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