. Heena deposited 2000 in the bank for 3 whole 1/4 years at the interest rate of 10% p.a. compounded annually. Calculate the amount she received at the end of the term.
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Madhu deposited Rs. 20000 in a bank at 10% per annum. Find the compound interest after 1
2
1
years if the interest is compounded yearly.
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Madhu diposited Rs 20000 in a bank.
Rate =10% per annum compounded annually.
Time=
2
3
years.
We know that, total amount when compounded yearly is given by
Total amount=P(1+
100
R
)
n
=20000(1+
100
10
)
2
3
=22000
Interest=Amount−Principle=22000−20000=2000
Step-by-step explanation:
heena diposited Rs 20000 in a bank.
Rate =10% per annum compounded annually.
Time=
2
3
years.
We know that, total amount when compounded yearly is given by
Total amount=P(1+ 100R) n
=20000(1+
100110
)
2
3
=22000
Interest=Amount−Principle=22000−20000=2000