Multiple Choice Questions on A person makes a fixed deposit of Rs 20000 in Bank of India for 3 years If the rate of interest be 1........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

A person makes a fixed deposit of Rs 20000 in Bank of India for 3 years If the rate of interest be 1...........

Quantitative Aptitude ( CCS) Simple Interest
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    A person makes a fixed deposit of Rs. 20000 in Bank of India for 3 years. If the rate of interest be 13% SI per annum charged half yearly. What amount will he get after 42 months?

    29100

    Correct Answer

    28100

    Incorrect Answer

    27100

    Incorrect Answer

    26100

    Incorrect Answer
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    Explanation:

    R=13%, T= 42 months
    For half year
    R=13/2, T= (42/12)*2= 7 half-years
    SI= (20000*7*6.5/100) = 9100
    A= P+SI = 20000+9100=29100

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