Question

Raziya deposited Rs 20000in a bank where compound interest is computed half yearly if the rate of interest is 11% how much amount she will get after an year​

Answer 1

According to the question:

• As per given in the question, Principal on 20000 rupees and time is half yearly and rate is also given 11% and we are said to amount after an year.

Given:

• Principal = 20000 rupees
• Time = 1 year
• n = half yearly
• Rate = 11%

To Find:

• Amount = ?

Therefore,

Using Formula

$\: \: \sf \: amount = principal ({1 + \frac{rate}{100} )}^{nt}$

The amount received after 1 year will be given

$\: \: \sf \: a = 20000 {(1 + \frac{0.06}{100}) }^{2 \times 1} \\ \\ \: \: \sf \: a = 20000 {(1 + 0.03)}^{2} \\ \\ \: \: \sf \: a = 20000 {(1.03)}^{2} \\ \\ \: \: \sf \: a = 21218 \: rupees$

$\therefore$

Hence, amount after 1 year is 21218 rupees.

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