Question

A bank offers a scheme wherein deposits made for 1600 days are doubled in value,the interest being compounded daily.The interest accrued on a deposit of rs.10000 over the first 400 days would be a) rs 250 b) rs 183 c) rs 148 d) rs 190​

Answer 1

Answer:

Step-by-step explanation:

Answer 2

1892 Rs is the interest accrued on a deposit of rs.10000 over the first 400 days .

Given:

Deposits amount made for 1600 days are doubled in value.

To Find:

The interest  on a deposit of rs.10000 over the first 400 days would be

Solution:

Let P be the deposit amount.

Given that Deposits made for 1600 days are doubled in value.

$P(1+\frac{r}{1000} )^{1600}= 2p\\\\((1+\frac{r}{100})^{400} )^{4} = 2\\\\(1+\frac{r}{100})^{400} = 2^{\frac{1}{4} } -----------(1)$

At t = 400 days, P= 10000 Rs.

Interest = $p(1+\frac{r}{100})^{400} - p$

=$1000 *2^{\frac{1}{4} } - 10000$

= 10000×1.1892 - 10000

=11892-10000

= 1892.0

Therefore, 1892 Rs is the interest accrued on a deposit of rs.10000 over the first 400 days .

Rs. 1892 is not present in any of the given options. Hence, none of the given options has the correct answer.

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