Question

A bank offers 8% compound interest calculated on
half-yearly basis. A customer deposits 2000 each on
19 January and 19 July of a year. At the end of the
year, the amount he would have gained as interest,
is​

Answer 1

The amount a customer have gained as interest is 243.2 Rs.

Step-by-step explanation:

As given in question that a bank offer 8% compound interest.

Customer deposits 2000 each on 19 January and 19 July of a year.

We have to calculated on half-yearly basis.

We have to find the amount a customer have gained as interest.

According to the question,

Principle = 2000

Rate = 8%

Time = 1 year

Time = $\frac{1}{2}$ year {for deposit on 19 July}

We know that,

For half-yearly:

$Amount = principle(\frac{1\ +\ (\frac{R}{2})}{100})^{2T}$

Amount after 1 year when interest calculated half-yearly (deposit on 19 January):

          $= 2000(\frac{1\ +\ (\frac{8}{2})}{100})^{2\times1}$

          $= 2000(1 + \frac{4}{100})^2$

          $= 2000(\frac{52}{50})^2$

Amount after $\frac{1}{2}$ year when interest calculated half-yearly (deposit on 19 July):

$= 2000(\frac{1\ +\ (\frac{8}{2})}{100})^{2\times\frac{1}{2}}$

$= 2000(1 + \frac{4}{100})$

$= 2000(\frac{52}{50})$

Total amount after 1 year:

$= 2000(\frac{52}{50})^2\ +\ 2000(\frac{52}{50})$

$=2000(\frac{52}{50})[\frac{52}{50}\ +\ 1]$

$=2000\times\frac{52}{50}\times\frac{102}{50}$

= 0.8 x 52 x 102

Amount = 4243.2 Rs.

Interest = Amount - Total deposit amount

Interest = 4243.2 - 4000

              = 243.2 Rs.

Hence, the amount a customer have gained as interest is 243.2 Rs.

             

Answer 2

Answer:

243.2 is answer please make me brainslit