InterviewSolution
Saved Bookmarks
| 1. |
A bank offers 15% simple interest per annum. A customer deposits Rs. 7200 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by means of interest is1). Rs. 68032). Rs.1660.53). Rs. 17014). Rs. 850 |
|
Answer» Principal = RS. 7,200 Rate of interest = 15% As rate is calculated semi annually Interest = (7200 × 15 × 1)/200 = Rs. 540 For the second half year Principal = 7200 + 7200 = Rs. 14400 Interest = (14440 × 15 × 1)/200 = Rs. 1080 Total interest = 540 + 1080 = Rs. 1620 |
|