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Biswa decided to save money for a trip. He waschecking some investment options for saving,but his friend Kalia suggested to check if he isinterested in compound interest. Biswa found abank that offers 6% compound interestcalculated on a half-yearly basis. To know indetail, Biswa planned to deposit Rs. 20000 eachon 1st of January and 1st of July of that sameyear. But Biswa is not that great at Math! Canyou help him know, what amount he would havegained through interest by the end of the year? please give the answer as fast as possible and give right answer only |
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Answer» RS.[1600×(1+2×1005)2+1600×(1+2×1005)] =Rs.[1600×4041×4041+1600×6041] =Rs.[1600×4041(4041+1)] =Rs.[40×401600×41×81] =Rs.3321. ∴C.I.=Rs.(3321−3200)=Rs.121 |
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