Record the rate of interest of Saving bank account from 10 different Banks . Find the CI and Amount on Rs 20000 for 3 years at the given rate of interest from each bank. Draw a Histogram and the frequency polygon of CI and Amount of different Banks in separate graph paper.
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Answer:
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ANSWER
ANSWERThe formula for compound interest, including principal sum, is:
ANSWERThe formula for compound interest, including principal sum, is:A=P(1+nr)nt
ANSWERThe formula for compound interest, including principal sum, is:A=P(1+nr)ntWhere:
ANSWERThe formula for compound interest, including principal sum, is:A=P(1+nr)ntWhere:A= the future value of the investment/loan, including interest
ANSWERThe formula for compound interest, including principal sum, is:A=P(1+nr)ntWhere:A= the future value of the investment/loan, including interestP= the principal investment amount (the initial deposit or loan amount)
ANSWERThe formula for compound interest, including principal sum, is:A=P(1+nr)ntWhere:A= the future value of the investment/loan, including interestP= the principal investment amount (the initial deposit or loan amount)r= the annual interest rate (decimal)
ANSWERThe formula for compound interest, including principal sum, is:A=P(1+nr)ntWhere:A= the future value of the investment/loan, including interestP= the principal investment amount (the initial deposit or loan amount)r= the annual interest rate (decimal)n= the number of times that interest is compounded per unit t
ANSWERThe formula for compound interest, including principal sum, is:A=P(1+nr)ntWhere:A= the future value of the investment/loan, including interestP= the principal investment amount (the initial deposit or loan amount)r= the annual interest rate (decimal)n= the number of times that interest is compounded per unit tt= the time the money is invested or borrowed for
In our given problem,
In our given problem,P= Rs. 20000, r=6%=0.06, n=2, t=1year
In our given problem,P= Rs. 20000, r=6%=0.06, n=2, t=1year∴, the amount received after the term of 1year will be given by,
In our given problem,P= Rs. 20000, r=6%=0.06, n=2, t=1year∴, the amount received after the term of 1year will be given by,A=20000(1+20.06)2×1
In our given problem,P= Rs. 20000, r=6%=0.06, n=2, t=1year∴, the amount received after the term of 1year will be given by,A=20000(1+20.06)2×1⇒A=20000(1+0.03)2
In our given problem,P= Rs. 20000, r=6%=0.06, n=2, t=1year∴, the amount received after the term of 1year will be given by,A=20000(1+20.06)2×1⇒A=20000(1+0.03)2⇒A=20000(1.03)2
In our given problem,P= Rs. 20000, r=6%=0.06, n=2, t=1year∴, the amount received after the term of 1year will be given by,A=20000(1+20.06)2×1⇒A=20000(1+0.03)2⇒A=20000(1.03)2⇒A=Rs.21218
In our given problem,P= Rs. 20000, r=6%=0.06, n=2, t=1year∴, the amount received after the term of 1year will be given by,A=20000(1+20.06)2×1⇒A=20000(1+0.03)2⇒A=20000(1.03)2⇒A=Rs.21218∴, the amount Sheetal will get after 1 year is Rs.21,218