Question

Dinesh makes a fixed deposit of Rs. 50,000 in a bank, for one year. If the rate of interest is `12%` per annum, componded half-yearly, then find the maturity value.
A. Rs. 66,125
B. Rs. 56,180
C. Rs. 57.500
D. Rs. 63,250

Answer 1

Correct Answer - B
`(i)A=P(1+(r)/(100))^(r)`
`(ii) Given, P=Rs.500,000,`
n=2 hald=years,
`R=6%` per half-year.
(iii) Use, `A=(1+(R)/(100))^(n)` find the maturity value (A).