A bank advertises that you can double the money

A bank advertises that you can double the money if you invest it with them for 8 years, what is the rate of interest offered by them? the remaining money was invested at 10% per annum for 2 years. Find the sum of money he invested each . A man invested 70% of his money at the rate of 15% per annum for 3 years. The. Prepaid debit card accounts like Netspend are popular for many reasons. Consumers often want to eliminate the risk to their personal bank accounts by paying for purchases with prepaid debit cards. A bank advertises that you can double the money if you invest it with them for 8 years what is the rate of interest offered by them. Bank on our top-rated mobile app or in person at Capital One Cafés or branches. Open a new account in about 5 minutes with no fees and 24/7 mobile banking. Hence, rate of interest offered by bank in simple interest is 5 %. Case 2: When the bank offers compound interest: Now compound interest, Compound Interest = P(1 + R ) T − P. To make it double, interest earned has to be ₹ By using the simple interest relation, Interest Rate = Simple Interest × Principal amount × Time = × × 8 = 8 = 5. School Anna University, Chennai; Course Title . 4 A bank advertises that you can double the money if you invest it with them for. 4 a bank advertises that you can double the money if. A bank advertises that you can double the money if you invest it with them for 8 years, what is the rate of interest offered by them?4. There are ot. Most individuals and businesses today have some type of banking account. Having a trusted financial service provider is important as it is a safe place to hold and withdraw earned income.

  • Solution Case When the bank offers simple interest: We know that Simple Interest Simple Interest Let us assume Principal amount is To make it double, interest earned has to be By using the simple interest relation. A bank advertises that you can double the money if you invest it with them for years, what is the rate of interest offered by them?
  • = \dfrac{{P \times R \times T}}{{}}\]. Thus as per our assumption, to earn it double, interest has to be Rs. \[\](double the money \[ = \] principal amount \[ + \] interest), that is, \[I = \] or\[S.I = \]. \[S.I. Let substitute these values in the formula, \[S.I. = \dfrac{{P \times R \times T}}{{}}\] to find the rate of interest. (a) % (b) 10% (c) % (d) 14%. A bank advertises that you can double the money by investing it with them for 8 years. What is the interest rate offered by them? Unsecured loans temporarily expand the money supply by creditin. Commercial banks are able to create money by lending it to their customers in amounts that exceed the reserve capital they keep on-hand. S. I. = P × R × T = × R × 8 Zeroes in and will get cancel thus. Thus as per our assumption, to earn it double, interest has to be Rs. (double the money = principal amount + interest), that is, I = or S. I = Let substitute these values in the formula, S. I. = P × R × T to find the rate of interest. Simple Interest = Principal * Interest Rate * Number of years of deposit / Let us assume Principal amount is Rs To make it double, interest earned has to be Rs By using above formula, Number of years of deposit = ( * ) / ( * 8) = years. Let us assume bank follows the process of Simple Interest. Now, the simple interest for 10 years =\frac{\times r\times 10}{} =r Now, the total . Jul 20,  · 10% Let r % be the annual rate of simple interest on sum $ 1, for 10 years. % b. A bank advertises that you can double the money if you invest it with them for 8 years, what is the rate of Interest offered by them? %. a. 10% c. What percent simple interest will it be paying? (Round percent to nearest tenth.) Doubling time. A bank advertises doubling your investment money in years. A bank advertises that you can double the money if you invest it with them for 8 years, what is the rate of interest offered by them? Simple Interest = Principal * Interest Rate * Number of years of deposit / Let us assume Principal amount is Rs To make it double, interest earned has to be Rs By using above formula, Number of years of deposit = ( * ) / ( * 8) = years. Jul 11, · First Scenario: Let us assume bank follows the process of Simple Interest. AyushsahiniAyushsahini A bank advertises that you can double the money if you invest it with them for 8 years, what is the - abc-baltin.de Answer:a bank advertises that can should be doubled and the money in the interest of a tear what is the interest money offer 96 rupees increase in 8 year is the. Jul 10, A bank advertises that you can double the money if you invest it with them for 8 years, what is the rate of interest offered by them?4. Jul 29, · a bank advertises that can should be doubled and the money in the interest of a tear what is the interest money offer 96 rupees increase in 8 year is the answer Advertisement Advertisement ItzMagician ItzMagician Answer: Let us assume bank follows the process of Simple Interest. 2 ½ 3 13 4 1 13 A bank advertises that you can double the money if you invest from CS at Illinois Institute Of Technology 2 ½ 3 13 4 1 13 a bank advertises. What is the annual interest rate? Continuous. Euler Bank advertises that it compounds interest continuously and that it will double your money in 15 years. A bank advertises that you can double the money by investing it with them for 8 from CS at Illinois Institute Of Technology. Hence, if the bank follows simple interest to double the money if we invest it with them for \[8\]. Rate of interest is in the form percentage, \[R = \% \]. Apr 01, · 2 ½ 3 13 4 1 13 A bank advertises that you can double the money if you invest from CS at Illinois Institute Of Technology 2 ½ 3 13 4 1 13 a bank advertises. What is the interest rate? Expert Answer Previous question Next question Get more help from Chegg Solve it with our calculus problem solver and calculator. A bank advertises that it compounds money quarterly and that it will double your money in 10 years. So how do I look at that? VIDEO ANSWER: Yeah. So if this question it's saying we're going to double our money in 12 years will be compelling continuously. Wipro Category Question Solution - A bank advertises that you can double the money if you invest it with them for 8 years, what is the rate of Interest. See Answer See Answer See Answer done loading A bank advertises that it compounds money quarterly and that it will double your money in 10 years. You'll get a detailed solution from a subject matter expert that helps you learn core concepts.
  • A bank advertises that you can double the money
  • · This problem has been. Question: A bank advertises that it compounds money quarterly and that it will double your money in 10 years. What is the interest rate? if we substitute the corresponding values in the above formula, we . then from the given data, amount after 8 years = 2p here the number of years (n) = 8 we have to find the rate of interest offered we know that amount = principal + simple interest from the given data, amount = 2p ⇒p + si = 2p ⇒si = p we know that, simple interest (si) =𝑃?? What is the interest rate? · This problem has been. Question: A bank advertises that it compounds money quarterly and that it will double your money in 10 years. A. % B. 10% C. % D. 14%. What is the interest rate offered by them? See Page 1. Cognizant Hiring 16 th and 17 th Oct Slot Analysis Answer: Option A Explanation: Let the principal amount be P. Then from the given data, Amount after 8. Q8.A bank advertises that you can double the money by investing it with them for 8 years. Expert Answer. Euler Bank advertises that it compounds interest continuously and that it will double your money in. Show transcribed image text. Add your answer and earn points. hemantdevnathhemantd hemantdevnathhemantd. Jul 21, · shwetajain shwetajain Business Studies Secondary School answered A bank advertises that you can double the money by investing it with them for 8 years 1 See answer Advertisement Advertisement shwetajain is waiting for your help. so for simplicity let you invested ( +8years * * x/) = (as will be doubled) =} 8**X/= therfore x = */* ==}} SO OPTION A. it will double the money implies you can invest how much you like! the bank advertises that money invested in the account will double in 8 years. Bank A offers an investment account where interest is earned continously.