Harsh makes a fixed deposit of 20000 with the bank of india for a period of 3 years , if the rate of interest is 13 % simple interest charged half yearly, what will the amount he get after 42 months ?

Question

Harsh makes a fixed deposit of  20000 with the bank of india for a period of 3 years , if the rate of interest is 13 % simple interest charged half yearly, what will the amount he get after 42 months ?

anonymous · Answer

Take the interest rate from the 20000 7 times.

anonymous · Answer

reminds me of leonard Cohen..everybody knows!

anonymous · Answer

Because, if it is charged half-yearly, it will be charged every six months, because there are 12 months in a year. It wants the total charge after 42 months. 42/7=6. The rate of interest is 13%. Multiply what you get after taking from the 20000 once with the rate of interest, & multiply that by 7.

mathmath333 · Answer

@ sith ans giggle it is mentioned 
simple interst not compond interset in question

anonymous · Answer

Does that make sense @mathmath333

anonymous · Answer

Principal sum = 20,000

anonymous · Answer

n = 3

anonymous · Answer

r = 13%

mathmath333 · Answer

@Brostep0s  continue pleease

anonymous · Answer

Do you know how to apply the rate of interest to the principal sum?

mathmath333 · Answer

i=prt

mathmath333 · Answer

please continue @Brostep0s

anonymous · Answer

Apply that one time. Please show your answer.

mathmath333 · Answer

u mean i=20000*0.13*3 ?

anonymous · Answer

*7, at the end, but yes.

mathmath333 · Answer

why 7?

mathmath333 · Answer

is final answer 
$54600$ @Brostep0s

anonymous · Answer

can you please show calculation @mathmath333

mathmath333 · Answer

http://www.wolframalpha.com/input/?i=%3D20000*0.13*3+*7

anonymous · Answer

This is incorrect. The correct answer is 18200 charged over 42 months. You made your error when you multiplied 3 into the equation.

anonymous · Answer

@Brostep0s  you cant say that until you show calculation

anonymous · Answer

? i=20000*.13*7= 18200 total charge. {You made your error when you multiplied 3 into the equation} i=20000*.13{*3}*7.

mathmath333 · Answer

yes the $18200$ in not given correct in book

anonymous · Answer

What are your choices, & I'll see what i did wrong.

anonymous · Answer

Keep the three included. i missed that piece of information.

mathmath333 · Answer

a. 27800
b. 28100
c. 29100
d. 28500

anonymous · Answer

@triciaal Help me with what I did wrong, if you will.

triciaal · Answer

Simple Interest = Principal in $  * rate as % * time in years 
I = P R T/100

anonymous · Answer

nice to see you @triciaal