Question

Kanika deposited 20000 for one year in fixed deposit with State Ban
India. If the bank pays 8% interest per annum and the interest is calcula
half-yearly, what amount will she get after one year?
Solution Principal = 20000​

Answer 1

Answer:

20000 + 1632 = 21632

Step-by-step explanation:

principal = 20000

one year interest is 8%

half yearly = 8/2 = 4%

20000 * 4% = 800

20000 + 800 = 20800

20800 * 4% = 832

so one year interest is ( 800+ 832) = 1632