Answer:
The Amount which drew after five years is 2400 unit
Step-by-step explanation:
Given as :
The principal deposited into an account = 2,000
The rate of simple interest = 4%
The time period = 5 years
From simple interest method
Simple Interest = [tex]\frac{Principal\times Rate\times Time}{100}[/tex]
Or, Simple Interest = [tex]\frac{2000\times 4\times 5}{100}[/tex]
Or, Simple Interest = [tex]\frac{40000}{100}[/tex]
∴ Simple Interest = 400
Now, Simple Interest = Amount - Principal
So, Amount = Simple Interest + Principal
Or, Amount = 400 + 2000 = 2400 unit
Hence , The Amount which drew after five years is 2400 unit . Answer
