Question

menial deposited 50000 in a bank for 2 years at a 12% rate of interest. however, after 1 Year he withdrew the whole amount including the interest from the bank. he then deposited the whole amount in another bank that paid the same rate of interest.. how much money will he get back after 1 year ​

Answer 1

Step-by-step explanation:

If FD interest rate is 7%, then you get Rs 7 lakh on a fixed deposit of Rs 1 crore in a year. This means you get a monthly interest of Rs 58,333. If FD interest rate is 7.5%, then you get Rs 7.5 lakh on a fixed deposit of Rs 1 crore in a year. This means you get a monthly interest of Rs 62,500

Answer 2

₹ 62,500 is your answer mate.

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