Question

Biswa decided to save money for a trip. He
was checking some investment options for
saving, but his friend Kalia suggested to
check if he is interested in compound
interest. Biswa found a bank that offers 6%
compound interest calculated on a half-
yearly basis. To know in detail, Biswa
planned to deposit Rs. 20000 each on 1st
of January and 1st of July of that same
year. But Biswa is not that great at Math!
Can you help him know, what amount he
would have gained through interest by the
end of the year?
Your Answer
a) 1818
b) 980
c)878
d) 1586​

Answer 1

Answer:

1200

Step-by-step explanation:

Principal=Rs.20000

Rate=6%

Time=1 month

Amount= P (1+R) T

100

= 20000×(1 +6) 1

100

= 20000×(1+3) 1

50

= 20000× 53

50

= 21200

C.I = A-P = 21200-20000 = 1200