Question

Rajesh deposit account in the bank and deposited rupees 12000 payment for two and half years at the rate of the interest was 10% find the maturity value of this account​

Answer 1

Answer:

Value after 2 years =

$12000 \times (1 + \frac{10}{100} ) {}^{2} =$

$12000 \times \frac{11}{10} \times \frac{11}{10} = 120 \times 121 = 14520$

After half year, this amount become

$14520 \times (1 + \frac{5}{100} ) = 14520 \times \frac{21}{20} = 15246$

so maturity value = ₹ 15246. Ans.