A makes a fixed deposit of 20,000 with a bank for a period of 3 years, if the roi be 13% Simple Interest charged half yearly ,what amount will he get after 42 months? (Answer is 29100) can you please explain?

Question

Bhargava Konduri · Accepted Answer

Simple Interest = P * R* T/100
To get 9100 as the interest, R = 100* 9100/ (3.5 years* 20,000) = 13% pa (42 months = 3.5 years)

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A makes a fixed deposit of 20,000 with a bank for a period of 3 years, if the roi be 13% Simple Interest charged half yearly ,what amount will he get after 42 months? (Answer is 29100) can you please explain?