A woman deposits 600 with 6% annual loan. If she withdraws all the money in the account after 120 days how much does she withdraw?

1 Answer
Harish Chandra Rajpoot
Jul 21, 2018

#=611.8356#

Explanation:

The simple interest on #600# at an annual rate of #6%# in #120#days or #120/365# years, is

#=600\times 6/100\times 120/365#

#=11.8356#

hence, total money withdrawn by woman in #120# days will be equal to the sum of principle & simple interest as follows

#600+11.8356#

#=611.8356#

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