Mohona deposits Tk 10,000 into a savings account that pays interest at an annual rate of 8%, compounded quarterly. After 6 months, how much interest has Mohona earned?

Mohona deposits Tk 10,000 into a savings account that pays interest at an annual rate of 8%, compounded quarterly. After 6 months, how much interest has Mohona earned? Correct Answer Tk 404

C = P ( 1 + r/t) nt = 10000 ( 1 + 0.08/4) 1/2 ×4 = 10404 Interest = C - P = 10404 - 10000 = 404 Tk
Bissoy MCQ

Related Questions

Mohona deposits Tk. 10,000 into a savings account that pays interest at an annual rate of 8%, compounded quarterly. After 6 months, how much interest has Mohona earned?
Mohona deposits Tk 10,000 into a sacings account that pays interest at an annual rate of 8% compounded quarterly. After 6 months, how much interest has Mohona earned?
Re-arrange the following sentences into a meaningful paragraph. (A) comes into effect from today. The bank's savings account rate was 3.5 per cent during March 2003 to May 2011 for all savings bank account customers (B) The bank's decision comes two days ahead of RBI's monetary policy meet and is likely to trigger (C) with deposits of above Rs 1 crore, it said in a statement. The two-tier savings bank account interest rate (D) to 3.5 per cent, lowest in six years, a decision that will impact 90 per cent of its customers (E) The country's largest lender however will continue to pay 4 per cent interest on savings bank accounts (F) SBI today cut interest rate on savings bank account deposits up to Rs 1 crore by 0.5 per cent (G) rate war among peers. SBI's savings bank account base is of around Rs 9 lakh crore.
Rithika had Rs 8000. She invested some of it in savings scheme P and the rest ofthe money in savings scheme Q. She invested for 3 years in savings scheme P and for2 years in savings scheme Q. savings scheme P offers SI at a rate of 20% pa whilesavings scheme Q compounded annually at the rate of 30% pa. The interest receivedfrom savings scheme P is 930 more than the interest received from savings scheme Q.If Rs 1500 is debited from the invested amount of savings scheme P then find thedifference between the amount invested by Rithika in savings scheme P & savingsscheme Q.
Kalam has invested a part of 10,000 Taka in an account that pays 6% simple interest rate each year and rest of the money in another account that pays 8% simple interest per year. If he has invested the money for 18 months and he has invested the money for 18 months and he earns a total of 1,020 Taka as interest, what is the difference in the amount of the interest earned on both the accounts?
Dianna deposits $725 into a savings account that pays 2.3% simple annual interest. How much interest will Dianna earn after 18 months?
Five years ago, Tk. 1,200 was deposited into a savings account paying 4.5% interest. Today, the balance in the account is Tk. 1,495. If interest paid on the account was compounded annually, how much interest on interest was earned?
Tk. 500 is deposited in a savings account which pays 7% annual interest compounded semi -annually. To the nearest Taka, how much is in the account at the end of the year?
If you deposit $4000 into an account paying 6% annual interest compounded quarterly, how much money will be in the account after 5 years ?
A company pays rent of Rs. 25000 per month for office space to its owner. But if the company pays the annual rent at the beginning of the year the owner gives a discount of 5% on the total annual rent. What is the annual amount the company pays to the owner after the discount ?