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Rahul deposited Rs 12000 in a bank for 2 years . If it is compounded annuallyat p.aunt will he recieve on maturity?(at the end of two years

Asked by Manju | 31st Dec, 2016, 06:52: PM

Expert Answer:

$begin mathsize 16px style The space rate space of space interest space has space not space been space given space in space the space question. space space But space straight I space am space going space to space assume space it space is space 10 percent sign comma and space we space have space to space find space the space amount space at space the space end space of space 2 space years. You space can space alter space your space question space accordingly. straight P equals space Rs. space 12000 comma space space space straight N space equals space 2 space years comma space space space straight R space equals space 10 percent sign straight A equals straight P open parentheses 1 plus straight R over 100 close parentheses to the power of straight N rightwards double arrow straight A equals 12000 open parentheses 1 plus 10 over 100 close parentheses squared rightwards double arrow straight A equals 12000 open parentheses 11 over 10 close parentheses squared rightwards double arrow straight A equals 12000 cross times 121 over 100 rightwards double arrow straight A equals Rs. space 14520 Hence comma space the space amount space at space the space end space of space 2 space years space is space Rs. space 14520. end style$

Answered by Rebecca Fernandes | 1st Jan, 2017, 08:58: AM

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