13 )a) Amrutha deposited rupees 20000 in a bank which compounds interest half yearly.
The annual rate of interest is 8%. How much amount would she get back after one year?
b) Najiya deposited rupees 20000 in a bank which compounds interest quarterly. The
annual rate of interest is 16%. How much amount would Najiya get back after six months?
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Answered by
5
total amount she would get back after one year is 21648.6432
compound interest half yearly
anual interest rate = 8%
for half yearly r /4= 2%
and t = 1
we know that
A = P(1 + (R/4)/100) ' (4t)
= 21648.6432
2) amount would Najiya get back after six months IS 21600
R = 16%
so quarterly R /2 = 8%
T = 1/2 Year
WE know that
A = P(1 + (R/2)/100) ' (2t)
= 21600
Answered by
3
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