Question

Sheela deposited RS 20000 in a bank where the interest is credited half yearly if the rate of interest paid by the bank is 6 percent per annum what amount will she get after 1 year​

Answer 1

Given :

Sheela deposited RS 20000 in a bank where the interest is credited half yearly if the rate of interest paid by the bank is 6 percent per annum

To find :

what amount will she get after 1 year

Solution :

Amount deposit in the bank =20000

rate of interest = 6%p.a and 3 half yearly

period = 1 year or 2 half year

amount received after 1 year

⇛ p (1 + R/100)^n

⇛ 20000 (1 + 3/100)²

⇛ 20000 (103/100)²

⇛ Rs 20000 x 103/100 x 103/100

⇛ Rs 21218

Answer 2

Answer:

✡ Given ✡

$\leadsto$ Sheela deposited Rs 20000 in a bank where the interest is created half yearly

$\leadsto$ The rate of interest paid by the bank is 6% per annum.

✡ To Find ✡

$\leadsto$ The amount will she get after 1 year.

✡ Formula Used ✡

▶ $\sf{ A= P(1+ \dfrac{r}{n})^{nt}}$

✡ Solution ✡

In our given problem,

• P = Rs 20000
• r% = 6% = 0.06
• n = 2
• t = 1 year

Therefore, the amount received after the term of 1 year will be given,

=> $\sf{ A = 20000(1+ \dfrac{0.06}{2})^{2×1}}$

=> A = 20000(1+0.03)²

=> A = Rs 21218

Hence, The amount Sheela will get after 1 year is Rs 21,218

Step-by-step explanation:

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