An amount of Rs- 20000 is deposited in a bank 2 years and paying an annual interest rate of 5- compounded yearly- Find the maturity value-22050320504205012050

Question

Toppr Admin · Accepted Answer

Given- principal Amount -P- - Rs- 20000-xA0-Rate of Interest Amount -r- -5-0-05Number of Period -t- -2 years-xA0- Compounded Interest -n- -1 -yearly-Maturity value - P-xD7-1-rn-nt- 20000-xD7-1-0-051-2- Rs- 22050

An amount of Rs. $20000$ is deposited in a bank for $2$ years and paying an annual interest rate of $5 %$ , compounded yearly. Find the maturity value.
$22050$
$32050$
$42050$
$12050$

Given, principal Amount (P) $=$ Rs. $20000$
Rate of Interest Amount (r) $= 5 % = 0.05$
Number of Period (t) $= 2$ years
Compounded Interest (n) $= 1$ (yearly)
Maturity value $=$ $P \times {(1 + \frac{r}{n})}^{n t}$
$=$ $20000 \times {(1 + \frac{0.05}{1})}^{2}$
$=$ Rs. $22050$

An amount of Rs. 20000 is deposited in a bank for 2 years and paying an annual interest rate of 5%, compounded yearly. Find the maturity value.22050320504205012050

Given, principal Amount (P) = Rs. 20000 Rate of Interest Amount (r) =5%=0.05Number of Period (t) =2 years Compounded Interest (n) =1 (yearly)Maturity value = P×(1+rn)nt= 20000×(1+0.051)2= Rs. 22050

An amount of Rs. $20000$ is deposited in a bank for $2$ years and paying an annual interest rate of $5 %$ , compounded yearly. Find the maturity value.
$22050$
$32050$
$42050$
$12050$

Given, principal Amount (P) $=$ Rs. $20000$
Rate of Interest Amount (r) $= 5 % = 0.05$
Number of Period (t) $= 2$ years
Compounded Interest (n) $= 1$ (yearly)
Maturity value $=$ $P \times {(1 + \frac{r}{n})}^{n t}$
$=$ $20000 \times {(1 + \frac{0.05}{1})}^{2}$
$=$ Rs. $22050$