Kona deposited Tk. 505 into her savings account. If the interest rate of the account is 5% per year, how much interest will she have made after 4 years?

Kona deposited Tk. 505 into her savings account. If the interest rate of the account is 5% per year, how much interest will she have made after 4 years?

A Tk. 101

B Tk. 252.50

C Tk. 606

D Tk. 10,100

Solution

Correct Answer: Option A

আমরা জানি, I = pnr/100
= 505 × 5/100 × 4
= 101