Question

Motilal deposits 16000 in a bank which pays interest at the rate of 20% per annum compounded
quarterly. Find the interest received by Motilal after one year.
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Answer 1

Answer:

3,448.10

Step-by-step explanation:

A = 19,448.10

A = P + I where

P (principal) =  16,000.00

I (interest) =  3,448.10

Answer 2

Answer:

SI= P *R*T/100

16000*20/100*1 year//100

= 32 rupees interest

Step-by-step explanation:

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