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?

Options

A. 29100
B. 28100
C. 27100
D. 26100

Answer

A

Explanation

R = 13 % , T = 42 months for half year
` R = 13/2 , T = 42/ 12 xx 2 = 7 " half -years" `
` SI = ( 2000 xx 7 xx 6.5)/100 = 9100`
` A = P + SI = 20000 + 9100 = 29100`