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SEQUENCES AND SERIES — MATHS STD 11 Science — Question

Gujarat BoardEnglish MediumSTD 11 ScienceMATHSSEQUENCES AND SERIES3 Marks
Question
A man deposited ₹ 10,000 in a bank at the rate of 5% simple interest annually. Find the amount in $15^{th}$ year since he deposited the amount and also calculate the total amount after 20 year.
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Answer

Total amount deposited = ₹ 10000, Rate of interest = 5% per annum
Interest of first year = $\frac { 10000 \times 5 \times 1 } { 100 }$ = ₹ 500
Here a = 1000, d = 500
$\therefore$ Amount in $15^{\text {th }}$ year $=\mathrm{a}_{15}=10000+(15-1) \times 500=10000+7000=₹ 17000$
Total amount after 20 years $=$ Amount in the $21^{\text {st }}$ year $=a_{21}=1000+(21-1) 500$
$=10000+10000=₹ 20000$

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