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Mohan invested 20000 rupee in fixed deposit at the rate of 10% simple interest.After every 3 rd year he added interest to principal. Find the interest earned at the end of 6 year.
- a)7800
- b)8000
- c)7600
- d)8200.
- e)None of these
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
Mohan invested 20000 rupee in fixed deposit at the rate of 10% simple ...
Answer – a) 7800 Explanation : For the first 3 years SI will be = 20000*10/100*3 = 6000 Now he add 3000 to the principal i.e = 20000+6000 = 26000 Now interest earned at end of 6 year = 26000*10/100*3 = 7800
Most Upvoted Answer
Mohan invested 20000 rupee in fixed deposit at the rate of 10% simple ...
Si=pnr
si=20000*3*10/100=6000
new p = 20000 + 6000 = 26000
new si after 6 years is 26000* 3 * 10/100. which = 7800
si=20000*3*10/100=6000
new p = 20000 + 6000 = 26000
new si after 6 years is 26000* 3 * 10/100. which = 7800
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Mohan invested 20000 rupee in fixed deposit at the rate of 10% simple ...
To find the interest earned at the end of 6 years, we need to calculate the interest earned at the end of each 3-year period and then add them together.
Given:
Principal amount (P) = Rs. 20,000
Rate of interest (R) = 10%
Time period (T) = 6 years
First, let's calculate the interest earned at the end of the first 3 years.
Interest (I) = (P * R * T) / 100
= (20000 * 10 * 3) / 100
= 6000
Now, the interest earned at the end of the first 3 years is added to the principal amount.
New Principal amount (P1) = P + I
= 20000 + 6000
= 26000
Next, let's calculate the interest earned at the end of the next 3 years.
Interest (I1) = (P1 * R * T) / 100
= (26000 * 10 * 3) / 100
= 7800
Finally, we add the interest earned at the end of the first 3 years and the interest earned at the end of the next 3 years.
Total interest earned = I + I1
= 6000 + 7800
= 13800
Therefore, the interest earned at the end of 6 years is Rs. 13,800.
However, none of the given options match the calculated interest. So, none of the options provided are correct.
Please note that the correct answer may depend on the compounding frequency of the interest, which is not mentioned in the question.
Given:
Principal amount (P) = Rs. 20,000
Rate of interest (R) = 10%
Time period (T) = 6 years
First, let's calculate the interest earned at the end of the first 3 years.
Interest (I) = (P * R * T) / 100
= (20000 * 10 * 3) / 100
= 6000
Now, the interest earned at the end of the first 3 years is added to the principal amount.
New Principal amount (P1) = P + I
= 20000 + 6000
= 26000
Next, let's calculate the interest earned at the end of the next 3 years.
Interest (I1) = (P1 * R * T) / 100
= (26000 * 10 * 3) / 100
= 7800
Finally, we add the interest earned at the end of the first 3 years and the interest earned at the end of the next 3 years.
Total interest earned = I + I1
= 6000 + 7800
= 13800
Therefore, the interest earned at the end of 6 years is Rs. 13,800.
However, none of the given options match the calculated interest. So, none of the options provided are correct.
Please note that the correct answer may depend on the compounding frequency of the interest, which is not mentioned in the question.
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Mohan invested 20000 rupee in fixed deposit at the rate of 10% simple interest.After every 3 rd year he added interest to principal. Find the interest earned at the end of 6 year.a)7800b)8000c)7600d)8200.e)None of theseCorrect answer is option 'A'. Can you explain this answer?
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