The balance in his savings account at the end of the 3rd full month is 753.13.
Suppose one deposits 2500 on 15th January.
What is simple interest?
Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.
Money in his account on 15th February = Money on 15th January + simple Interest levied between 15th January and 15th February + Money deposited on 15th February
Money in his account on 15th February
250+ 250*(2.5/12) * 1/100 + 250 = 500.52
Similarly,
Money in his account on 15th March
500.52+ 500.52*(2.5/12)*1/100 +250 = 751.56
Money in his account on 15th April (At the end of the third full month)
751.56+ 751.56*2.5/12 * 1/100 = 753.13
Hence, The balance in his savings accounts at the end of the 3rd full month is 753.13.
To get more about simple interest refer to:
https://brainly.com/question/2294792
