Mr x Made a fixed desposit of Tk. 10,000 for 1 year at an annual rate of 8 percent compounded seiannually. Calculate the amount of interest to be paid at maturity ?
Created: 7 months ago | Updated: 1 month ago
Job Solution Shahjalal Islami Bank Ltd Shahjalal Islami Bank Ltd | Trainee Senior Officer | 30.11.2018 গণিত
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Interest in 1st 6th months:

I = pnr

 = 10,000*½*8/100(n=1/2year)

 =400 taka

Interest in 2nd 6th months,

I = pnr

 10,400*½*8/100(compound interest so, 10,000+400=10,400)

 =416

Therefore, total interest is 400+416 = 816 taka.

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