20
Raju makes a deposit of Rs. 50000 in the SBI for a period of 5/2 years. If the rate of interest is 20% per annum compounded half-yearly. Find the maturity value of the money deposited by him?
- A81525.50
- B124416
- C80525.50
- D79565.75
Answer not set
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CCommunity
rate of interest is 20% compounded half-yearly
Rate of interest compounded annually = 10% and t will be 5 years
Maturity value of money at the end of 5/2 years
⇒ 5000(1 + 10/100)5 = 50000 (11/10)5
∴ Maturity value = 80525.50
Rate of interest compounded annually = 10% and t will be 5 years
Maturity value of money at the end of 5/2 years
⇒ 5000(1 + 10/100)5 = 50000 (11/10)5
∴ Maturity value = 80525.50