Ten > Compound Interest

Asked by Basanta · 2 years ago

Arohi is planning to deposit Rs 16000 in a foreign bank which pays interest at the rate 10$\rm \%$ per annum.

1. If Bank A provides semi-annual compound interest then find the semi-annual compound interest after 1 year.
2.  If another bank B provides quarterly compound interest then find the quarterly compound interest after I year.
3. Which bank is preferable for deposit and why?