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Vinod makes a deposit of Rs. 100,000 in Syndicate Bank for a period of 2 years. If the rate of interest be 12% per annum compounded half-yearly, what amount will he get after 2 years?
- a)122,247.89
- b)125,436.79
- c)126,247.69
- d)122436.89
Correct answer is option 'C'. Can you explain this answer?
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Vinod makes a deposit of Rs. 100,000 in Syndicate Bank for a period of...
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Vinod makes a deposit of Rs. 100,000 in Syndicate Bank for a period of...
Given:
Principal amount (P) = Rs. 100,000
Rate of interest (R) = 12% per annum compounded half-yearly
Time period (n) = 2 years
Formula:
The formula to calculate the amount (A) at the end of the time period is:
A = P(1 + R/2/100)^(2n)
Calculation:
Here, n = 2 years and interest is compounded half-yearly, so the number of compounding periods (t) in a year will be 2.
Using the formula, we get:
A = 100,000(1 + 12/2/100)^(2*2)
= 100,000(1 + 0.06)^4
= 100,000(1.06)^4
= 126,247.69
Therefore, Vinod will get Rs. 126,247.69 after 2 years.
Hence, option (c) is the correct answer.
Principal amount (P) = Rs. 100,000
Rate of interest (R) = 12% per annum compounded half-yearly
Time period (n) = 2 years
Formula:
The formula to calculate the amount (A) at the end of the time period is:
A = P(1 + R/2/100)^(2n)
Calculation:
Here, n = 2 years and interest is compounded half-yearly, so the number of compounding periods (t) in a year will be 2.
Using the formula, we get:
A = 100,000(1 + 12/2/100)^(2*2)
= 100,000(1 + 0.06)^4
= 100,000(1.06)^4
= 126,247.69
Therefore, Vinod will get Rs. 126,247.69 after 2 years.
Hence, option (c) is the correct answer.
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Vinod makes a deposit of Rs. 100,000 in Syndicate Bank for a period of 2 years. If the rate of interest be 12% per annum compounded half-yearly, what amount will he get after 2 years?a)122,247.89b)125,436.79c)126,247.69d)122436.89Correct answer is option 'C'. Can you explain this answer?
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Vinod makes a deposit of Rs. 100,000 in Syndicate Bank for a period of 2 years. If the rate of interest be 12% per annum compounded half-yearly, what amount will he get after 2 years?a)122,247.89b)125,436.79c)126,247.69d)122436.89Correct answer is option 'C'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Vinod makes a deposit of Rs. 100,000 in Syndicate Bank for a period of 2 years. If the rate of interest be 12% per annum compounded half-yearly, what amount will he get after 2 years?a)122,247.89b)125,436.79c)126,247.69d)122436.89Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Vinod makes a deposit of Rs. 100,000 in Syndicate Bank for a period of 2 years. If the rate of interest be 12% per annum compounded half-yearly, what amount will he get after 2 years?a)122,247.89b)125,436.79c)126,247.69d)122436.89Correct answer is option 'C'. Can you explain this answer?.
Vinod makes a deposit of Rs. 100,000 in Syndicate Bank for a period of 2 years. If the rate of interest be 12% per annum compounded half-yearly, what amount will he get after 2 years?a)122,247.89b)125,436.79c)126,247.69d)122436.89Correct answer is option 'C'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Vinod makes a deposit of Rs. 100,000 in Syndicate Bank for a period of 2 years. If the rate of interest be 12% per annum compounded half-yearly, what amount will he get after 2 years?a)122,247.89b)125,436.79c)126,247.69d)122436.89Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Vinod makes a deposit of Rs. 100,000 in Syndicate Bank for a period of 2 years. If the rate of interest be 12% per annum compounded half-yearly, what amount will he get after 2 years?a)122,247.89b)125,436.79c)126,247.69d)122436.89Correct answer is option 'C'. Can you explain this answer?.
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