Ramu deposited rupees 6000in a bank where interest is compounded half yearly.if the rate of interest is 10% ,what interest will he get after one year?
Answers
Answered by
1
Answer:
We have principal=Rs6000
Rate of interest=10%p.a
Period for which money is deposited=1 year
As interest is compounded half-yearly,thus interest received by Ramu after one year
P(1+R/2/100)^2n
Rs6000(1+10/200)²
Rs6000(210/200)²
Rs6000×21/20×21/20
Rs6615
Answered by
2
Answer:
7200 Rs
Step-by-step explanation:
priciple amount =6000
half year interest =10%
10℅of 6000 =600Rs
therefore after one year =2×half year interest amount
=2×600 =1200Rs
total amount =6000 + 1200
=7200Rs
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