Question

in a 3 year fixed deposit scheme announced by a company , money could be deposited in multiple of 1000 for 2 years, the interest rate would be paid at 12.5% per annum , compounded half yearly. find how much money will be received back after 2 years if rupees 5000 is deposited

Answer 1

Note:   ^ means raise to power

Interest rate half yearly will be 12.5/2 = 6.25% compounded half yearly.

So money after 2 years i.e. 4 half yearly will be:

= Principal * (1 + rate/100) ^ t

= 5000 * (1 + 6.25/100) ^ 4

= 6372.1466

So, Rs. 6372.1466 is the answer

Answer 2

Answer:

here is your answer may this helps you .................