Question

Motilal deposits 16000 in a bank which pays interest at the rate of 20% per annum compounded quartely find the interest received by motilal after one year

Answer 1

principal=16000
rate of interest=20%
time=1year
$p \times r \times t$
=3200
amount
=3200+16000
=19200 Ans.
therefore,motilal will get 19200.

Answer 2

Answer:

Given,

Principle = Rs.16000

Time = 9 months = 3 quarters

Rate = 20% per annum = 5% per quarter  

=> Amount = Rs. [16000×(1+5/100)^3)]

= > Rs.16000×21/20× 21/20 × 21/20

=>  Rs. 18522

CI = Rs. (18522 - 16000)

=> 2522

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@GauravSaxena01