Question

vinay deposit rs. 8000 in icici bank which pays him 12% per annum compounded quarterly. what is the amount that he receives after 6 months ?​

Answer 1

Step-by-step explanation:

A =

$a = p {(1 + r \div 100) }^{n?}$

$a = 8000 {(1 + 12 \div 100)}^{?1 \div 2}$

$a = 8000 \times\sqrt(112 \div 100)$

$a = 8000 \div 10 \times ( \sqrt{112)}$

$a = 80 \sqrt{112}$

a= 846•64

Answer 2

The amount that he receives after 6 months is Rs.8487.2

Step-by-step explanation:

Principal = Rs.8000

Rate of interest = 12%

No. of compounds per year = 4

Time = 6 months = $\frac{6}{12}=\frac{1}{2} year$

$Amount = P(1+\frac{r}{n})^{nt}$

Where P is principal

r = rate of interest

n = no. of compounds

t = time

Substitute the values in the formula :

$Amount = 8000(1+\frac{12}{400})^{4 \times \frac{1}{2}}\\\\Amount =8487.2$

Hence the amount that he receives after 6 months is Rs.8487.2

#Learn more:

Vinay deposited rs 8000 in ICIC Bank,Which pays him 12% intrest per annum compounded quartely. What is the amount that he receives after 6 months?(a) Rs. 8487.2 (b) rs. 9228.8 (c) 9314 .3 (d) rs.9338.8​

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