Suppose you deposited Rs 10000 on January 1. 2013 at 12.50% interest rate for 1 year. On July 1 2013 Rs 15000 at 12% interest rate for 6 months and on October 1 2013 Rs 20000 at 11.5% interest rate for 3 months (assume that the stated interest rates are simple and annual). Suppose you withdrew all deposits including due interests on December 31. 2013. Calculate the overall annual rate of interest you have received.
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For 10,000 interest is 12.5 is 1250 so total is 11250 and for 15000 interest is 12% for 6 months 15000(1+(0.12*0 .5)) here comes the 15900 and finally 20000 interest is 11.5%for 3 months 20000(1+(0.115* 0.25))here comes the total amount of 20575. and finally we receive 11250+15900+205 75=47725