Mr. Joshi deposits ₹8000 at the end of every year for 5 years in a b

1.	Mr. Joshi deposits ₹8000 at the end of every year for 5 years in a bank. the bank charges the rate as 8%p a., compounded quartely. Find the effective rate of interest p. a. also find the accumulated value
Answer» $\Large\bf\pink{answer\star}$ $43200$ $\Huge\mathfrak\blue{well, now\:let's\:do\:it\:step-by-step\star}$ $\large\bf\green{8000×5=40000}\\\large\bf\green{we\: will\: use\:distributive \:property \:to\: make \:it \:easier}\\\large\bf\red{10percent\:of\: 8000-2percent\: of \:8000=800-160=640}\\\Large\bf\pink{Per \:annual\: interest =640}\\\Large\bf\orange{5years=640×5=3200}\\\large\bf\purple{total \:amount 40000+3200=43200}$

Mr. Joshi deposits ₹8000 at the end of every year for 5 years in a bank. the bank charges the rate as 8%p a., compounded quartely. Find the effective rate of interest p. a. also find the accumulated value

Answer»

$\Large\bf\pink{answer\star}$

$43200$

$\Huge\mathfrak\blue{well, now\:let's\:do\:it\:step-by-step\star}$

$\large\bf\green{8000×5=40000}\\\large\bf\green{we\: will\: use\:distributive \:property \:to\: make \:it \:easier}\\\large\bf\red{10percent\:of\: 8000-2percent\: of \:8000=800-160=640}\\\Large\bf\pink{Per \:annual\: interest =640}\\\Large\bf\orange{5years=640×5=3200}\\\large\bf\purple{total \:amount 40000+3200=43200}$

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Mr. Joshi deposits ₹8000 at the end of every year for 5 years in a bank. the bank charges the rate as 8%p a., compounded quartely. Find the effective rate of interest p. a. also find the accumulated value​

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Mr. Joshi deposits ₹8000 at the end of every year for 5 years in a bank. the bank charges the rate as 8%p a., compounded quartely. Find the effective rate of interest p. a. also find the accumulated value