Question

Sudershan has deposited rs 32000 in a bank where the interest is credited quaterly. If the rate of interest be 5% p.a. Find amount deposited in a bank after 6 months.

Answer 1

Given Principal = 32000, R = 5%, n = 6 months = (6/12) = (1/2) year.

Now,

We know that A = P(1 + r/4 * 100)^4n

= > 32000(1 + 5/400)^4 * (1/2)

= > 32000(1 + 1/80)^2

= > 32000(81/80)^2

= > 32000(6561/6400)

= > 320 * (6561)/64

= > 6561 * 5

= > 32805.

Therefore, the amount deposited = 32805.

Hope it helps!

Answer 2

Given
P=₹32000

R=5 P.a.

Time=6 months

Type of intrest =compounded quarterly

So R=5/4 %

And interval =6/2= 3 months

N=2

AMOUNT =P(1+R/100)^N

$= 32000(1 + ( \frac{5}{4})( \frac{1}{100} ) )^{2}$

$= 32000(1 + ( \frac{5}{400})) ^{2}$

$= 32000( \frac{400 + 5}{400} ) ^{2}$
$= 32000 { (\frac{405}{400} )}^{2}$

$= 32000 \times \frac{405}{400} \times \frac{405}{400}$

=32805

Amount =₹32805

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