A man inversts Rs 10000 in bank for 3/2years at the interest rate of 15/2%p.a., compounded annually. Find the amount he will receive at the end of the period
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1
Answer:
RS.11287.50 after end of the period
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Step-by-step explanation:
interest for one year
= PTR/100
= 10000*1*15/200
= 750
Principal for rest period
= 10000+750
= 10750
interest for remaining six month
= PTR/100
= 10750*15/400
= 403.125
Amount = 10750 + 403.125
= 11153.125
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