Question

Varun deposited 50000 in a bank where interest is credited half yearly. what amount did he get back after two years at 20per cent per annum​

Answer 1

Answer:

This can be calculated by keeping RS 50000 as the main principle amount, rate of interest as 20% and the time of two years where the interest is given half yearly.

So by applying the formula Amount A = P[1+R/100]n.

This is how the Amount can be determined and then subtracting the principle from the calculated amount will also give the Compound interest.