Ambili deposited 12000 rupees in a bank, which pays interest compounded half -yearly. The annual rate of interest is 8%. How much would she get back after one year?
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Answered by
6
Answer:
We know that, when rate is compounded half yearly,
• Rate Half.
Time Double.
SO,
• Rate = 8/2 = 4%
Time = 1 * 2 = 2 years.
Putting all values we get,
→ A = P[1 + (R/100)]^T
→ A = 12000[1 + (4/100)]²
→ A = 12000 * [1 + (1/25)] ^ 2
→ A = 12000 * (26/25) ^ 2
→ A = (12000* 676)/625
→ A = Rs.12979.2 (Ans.)
Answered by
0
Answer:
We know that, when rate is compounded half yearly,
• Rate Half.
Time Double.
SO,
• Rate = 8/2 = 4%
Time = 1 * 2 = 2 years.
Putting all values we get,
→ A = P[1 + (R/100)]^T
→ A = 12000[1 + (4/100)]²
→ A = 12000 * [1 + (1/25)] ^ 2
→ A = 12000 * (26/25) ^ 2
→ A = (12000* 676)/625
→ A = Rs.12979.2 (Ans.)
Step-by-step explanation:
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