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

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

Give, time = 42 months. = (42/12) yr = 31/2 yr = 7 half - yr, rate = 13/2% half - yearly SI = (20000 x 13 x 7)/(100 x 2) = ₹ 9100 ∴ Amount (A) = 20000 + 9100 = ₹ 29100

₹ 27800
₹ 28100
₹ 29100
₹ 30000

Correct Answer: ₹ 29100

Explanation:

Give, time = 42 months.
= (42/12) yr = 3¹/₂ yr
= 7 half - yr,
rate = 13/2% half - yearly
SI = (20000 x 13 x 7)/(100 x 2) = ₹ 9100
∴ Amount (A) = 20000 + 9100
= ₹ 29100

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