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Bala opened a fixed deposit account for 2 year by making a deposite of Rs 12000 .The rate of interest was 20% per annum interest being comounded annually find the total interst paid by the bank (inRs )A. 4800B. 5280C. 5760D. 6240 |
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Answer» Correct Answer - b Maturity amount (in Rs) =12000`(1+((20)/(100)^(2))` `=12000)(1.2)^(2)=12000(1.44)=17.280` Total interest (in Rs) =17280-12000=5280 |
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