Mr. X has an investable amount of Tk. 100,000; he will invest the amount for two years.He has two options. He can invest at a simple interest rate of 12% per annum; alternatively, he can invest at a compound interest rate of 10% (compounded semi annually), calculate his earning under the two options and advise Mr. X accordingly.

Ashifur August 8, 2023 - 14:36

Problem: Mr. X has an investable amount of Tk. 100,000; he will invest the amount for two years.He has two options. He can invest at a simple interest rate of 12% per annum; alternatively, he can invest at a compound interest rate of 10% (compounded semi annually), calculate his earning under the two options and advise Mr. X accordingly.

View all: BANGLADESH BANK | OFFICER | QUESTION SOLVE(MATH) | 2001

Correct Answer: Simple interest (Tk. 24000) is more acceptable than compound interest (Tk. 21550.6) options. So simple interest is better for Mr. X.

Explanation:

At 12% simple interest,

interest at Tk. 100 for 1 year = Tk. 12

Interest of Tk. 100000 for 2 year = $\frac{12x2x100000}{100}$= Tk. 24000

At 10% compound semi annually interest,= 100000$(1+\frac{10}{100×2})^{2×2}$= 121550.625

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