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Veena deposit rs 7200 in finance company which pays 15% interest per year. Find the internet and the amount she expected to get 4 years and 6 month.?
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Veena deposit rs 7200 in finance company which pays 15% interest per y...
Given:
Veena deposits Rs 7200 in a finance company.
The finance company pays 15% interest per year.
To Find:
The interest and the amount Veena is expected to get after 4 years and 6 months.
Solution:
Step 1: Calculate the interest for 4 years and 6 months.
We need to calculate the simple interest using the formula:
Simple Interest = (Principal * Rate * Time) / 100
Where,
Principal = Rs 7200
Rate = 15% per year
Time = 4 years and 6 months
Converting 4 years and 6 months into months:
4 years = 4 * 12 = 48 months
6 months = 6 months
Total time = 48 + 6 = 54 months
Substituting the values into the formula:
Interest = (7200 * 15 * 54) / 100
Calculating the interest:
Interest = (7200 * 15 * 54) / 100
Interest = 58320
Therefore, the interest Veena will receive after 4 years and 6 months is Rs 58320.
Step 2: Calculate the total amount Veena is expected to get.
Total Amount = Principal + Interest
Substituting the values:
Total Amount = 7200 + 58320
Total Amount = 65520
Therefore, Veena is expected to receive Rs 65520 after 4 years and 6 months.
Conclusion:
Veena will receive an interest of Rs 58320 and the total amount of Rs 65520 after 4 years and 6 months.
Veena deposits Rs 7200 in a finance company.
The finance company pays 15% interest per year.
To Find:
The interest and the amount Veena is expected to get after 4 years and 6 months.
Solution:
Step 1: Calculate the interest for 4 years and 6 months.
We need to calculate the simple interest using the formula:
Simple Interest = (Principal * Rate * Time) / 100
Where,
Principal = Rs 7200
Rate = 15% per year
Time = 4 years and 6 months
Converting 4 years and 6 months into months:
4 years = 4 * 12 = 48 months
6 months = 6 months
Total time = 48 + 6 = 54 months
Substituting the values into the formula:
Interest = (7200 * 15 * 54) / 100
Calculating the interest:
Interest = (7200 * 15 * 54) / 100
Interest = 58320
Therefore, the interest Veena will receive after 4 years and 6 months is Rs 58320.
Step 2: Calculate the total amount Veena is expected to get.
Total Amount = Principal + Interest
Substituting the values:
Total Amount = 7200 + 58320
Total Amount = 65520
Therefore, Veena is expected to receive Rs 65520 after 4 years and 6 months.
Conclusion:
Veena will receive an interest of Rs 58320 and the total amount of Rs 65520 after 4 years and 6 months.
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Veena deposit rs 7200 in finance company which pays 15% interest per year. Find the internet and the amount she expected to get 4 years and 6 month.?
Question Description
Veena deposit rs 7200 in finance company which pays 15% interest per year. Find the internet and the amount she expected to get 4 years and 6 month.? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Veena deposit rs 7200 in finance company which pays 15% interest per year. Find the internet and the amount she expected to get 4 years and 6 month.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Veena deposit rs 7200 in finance company which pays 15% interest per year. Find the internet and the amount she expected to get 4 years and 6 month.?.
Veena deposit rs 7200 in finance company which pays 15% interest per year. Find the internet and the amount she expected to get 4 years and 6 month.? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Veena deposit rs 7200 in finance company which pays 15% interest per year. Find the internet and the amount she expected to get 4 years and 6 month.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Veena deposit rs 7200 in finance company which pays 15% interest per year. Find the internet and the amount she expected to get 4 years and 6 month.?.
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