SEE Exam Set 2080 8 Min Rec.
Q21
MathematicsChapter 02: Compound Interest
Question No. 21
Problem Statement

You went to deposit Rs. 60,000 in a bank for 2 years. The bank's notice board offers two fixed deposit accounts: Fixed deposit (P) with half yearly compound interest at 10% p.a., and Fixed deposit (Q) with yearly compound interest at 12% p.a. (i) How much interest will be collected in account (P) after 2 years? (ii) How much interest will be collected in account (Q) after 2 years? (iii) After knowing the interest rates of both options, by which option will you deposit the money? And why?

High Frequency SEE Question Difficulty: Moderate

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Question 21 of 37(Compulsory Math SEE Bank)
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