Question

Najiya deposited rupees 20000 in a bank which compounds interest quarterly. The
annual rate of interest is 16%. How much amount would Najiya get back after 8 months?​

Answer 1

Answer:

5000 rupees ..............

Answer 2

Answer:

₹21632 is the correct answer .

Step-by-step explanation:

We have given that ≈

• Principal = ₹ 20,000
• Rate=16% per annunm that is 4% per quarter .
• Time = 8 months that is 2 quarters

To be find≈

• How much amount would Najiya get back after 8 months?

By applying formula of Amount at C. I.

A≈ P(1+r/100)^t

• where p is principal
• r is rate per quarter
• t is time, here is quarters

A= 20,000(1+4/100)^2

A= 21632

Therefore after 8 months Najiya will get ₹21632.

• Hope this will help you out
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