Albert invested an amount of $R s . 8000$ in a fixed deposit scheme for $2$ years at compound interest rate $5$ p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?

R s . 8600

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R s . 8620

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R s . 8820

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None of these

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Solution

The correct option is C $R s . 8820$
$A m o u n t = R s . [8000 \times {(1 + \frac{5}{100})}^{2}]$
$= R s . (8000 \times \frac{21}{20} \times \frac{21}{20})$
$= R s . 8820$ .

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Albert invested an amount of Rs.8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?

The correct option is C Rs.8820Amount=Rs.[8000×(1+5100)2]=Rs.(8000×2120×2120)=Rs.8820.

Albert invested an amount of $R s . 8000$ in a fixed deposit scheme for $2$ years at compound interest rate $5$ p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?

The correct option is C $R s . 8820$
$A m o u n t = R s . [8000 \times {(1 + \frac{5}{100})}^{2}]$
$= R s . (8000 \times \frac{21}{20} \times \frac{21}{20})$
$= R s . 8820$ .