Question

Ravi deposited rupees 16000 at 10% in a bank for some years and withdrawn his interest every year at the end of the period he had received altogether rupees 22400 for many years he had deposited the money ​

Answer 1

Answer:

principle=16000

rate=20%

time=compounded quarterly =1/4×12 =3

c.i =p (1+r/100)n

16000×1+20/100 n

691200