Question

Arun deposited 2000 rupees in a bank which compounds interest annually. Mohan deposited
2000 rupees in a bank which compounds interest half-yearly. Raju deposited the same amount in a
bank which compounds interest quarterly. The annual rate of interest is 4% is the same for all three
banks. How much amount would each get after one year?

Answer 1

Answer:

2000×4×1/100=80

80×12=960

total amount =2960