Question

please give me answer of this question plzzz

Answer 1

since, the bank paid interest quarterly at the rate of 12 % p.a for six months .

Find the amount that he received:
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Given , principal = ₹ 10,000 ,

rate = 12 % per annum = 12 / 4 = 3 % quarterly

time = 6 months = 2 quarters

amount = p [ 1 + ( r / 100 ) ]^t

amount = 10,000 [ 1 + ( 3/ 100 ) ]^2

amount = 10,000 ×(103/100) × (103/100)

amount = 103 × 103 = ₹ 10609

therefore, the amount received by him on maturity = ₹ 10609

Answer : amount = ₹ 10609

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