100000 rupees are deposited in BOB at a rate of 7 % interest per annum added half yearly. Total ou

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08 Jul 2010 Bank interest rate

100000 rupees are deposited in BOB at a rate of 7 % interest per annum added half yearly. Total output will be?

OPtion

1) 107862.5
2) 107000
3) 108257.5
4) 107122.5
5) 108126.5
6) 107500
7) 108690
8) 108160.5
9) 109720.5
10) 109725

Solution

Half year interest = 7/2 = 3.5 %
After half year output = 100000 * 103.5 / 100
= 103500
After 1 year output = 103500 * 103.5 / 100
= 107122.5

Correct Option: 4 Best Solution (7)