Question

A man invests Rs 10000 in a bank for 1½ years at the interest rate of 7½% p.a., compounded annually. Find the amount he will receive at the end of the year.​

Answer 1

Answer:

It is given that the man deposited Rs 10000 in a bank at the rate of 5% simple interest annually.

∴ Interest in first year =

100

5

×Rs10000=Rs500

∴ Amount in 15

th

year=Rs10000+

14times

500+500+...+500

=Rs.10000+14×Rs500

=Rs10000+Rs7000

=Rs17000

Amount after 20 years =Rs10000+

20times

500+500+...+500

=Rs10000+20×Rs500

=Rs10000+Rs10000=Rs20000

Step-by-step explanation:

please mark me as brainliest and follow me