Question

Ram deposited * 20,000 in a bank, where in interest is credited half-yearly. If the rate of interest paid by the
bank is 6%p.a., what amount will he get after 1 year?
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Answer 1

Step-by-step explanation:

P = 20,000

Compound interest=. 20000(1+6/200)^2

....... 20000*206*206/200*200

.. . 144818

Answer 2

In compound interest

principal =20,000

rate=6%

time=1year

amount=p(1+r/100)^2

=20,000(1+6/100)^2

=20,000(106/100)^2

20,000(53/50)^2

20,000*2809/2500

=Rs 22.472

in simple interest

Si-P*R*2t/100

-20000*6*2/100

Rs 2400

amount 20000+2400

Rs 22400