Question

sheela deposited Rs 20000 in bank,which is credited half yearly if the rate of interest paid by bank is 6% per annum what amount will she get after 1 year

Answer 1

in compound interest-

Principal= Rs.20000
Rate-6%
time-1 year

Amount=p(1+r/100)^2t
             =20000(1+6/100)^2
             =20000(106/100)^2
             =20000(53/50)^2
             =20000*2809/2500
             =Rs.22,472

In simple interest

Si-P*R*2T/100
   -20000*6*2/100
   -Rs.2400

Amount= 20000+2400
             =Rs.22400
                                  

Answer 2

Answer:

=> After 1 year she gets the amount of Rs. 21, 218

Step-by-step explanation:

Given data:-

Amount deposit in the bank = Rs. $20000$

Rate of interest (R) = $6$% or $3$% half-yearly

Period (n) = $1$ year or $2$ half years

To find:-

Amount received after $1$ year

The formula to be used:

$A=P(1+\frac{R}{100})^n$

$=> 20,000(1+\frac{3}{100})^2$

By further calculations we get,

$=> 20,000(\frac{103}{100})^2$

=> Rs. 21, 218

Hence, the required amount she gets after 1 year is Rs. 21, 218.