the interest earned savings account

Class XI maths

 math skills students learn in class XI!  To start practicing, just click on any link. 

• Renuka
• has
• ₹40,000
• in
• a
• savings
• account.
• The
• interest
• rate
• is

• 11

  %

• per
• year.
• How
• much
• will
• she
• have
• in
• 1
• year?

Use the formula i = prt, where i is the interest earned, p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.