How Much Amount Harsh will be get After 42 Months?

Harsha makes a fixed deposit of Rs. 20000 in Bank of lndia for a period of 3 years. If the rate of interest be 13% SI per annum charged half-yearly, what amount will he get after 42 months?

  1. Rs. 27800
  2. Rs. 28100
  3. Rs. 29100
  4. Rs. 30000
Desire Adnan Default Asked on 4th August 2015 in Maths.
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1 Answer(s)

Answer: (3) Rs.29100
Explanation:-
Given-
Principal = Rs.20000, Rate = 13 % , Time = 42 months
1 years = 12 months
Therefore, 42 months = 42/12 years

Formula-
Simple Interest = P x R x T/100
Where, P = principal , R = rate, & T = time.

When interest paid half yearly then, we follow the formula which is given below.
Then,  rate will be divide by 2 and time will be multiply by 2 If time is given in yearly.

Then ,  Simple Interest = 20000 x 13 x 7 /2 x 100
= 10 x 13 x 7
= Rs.9100

Then, the amount = 20000 + 9100
= Rs.29100

Hence, the answer is (3) Rs.29100.

Anurag Mishra Professor Answered on 5th August 2015.
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