1. Find the amount and the compound interest on 120000 at 8% per annum for 1 year, compounded
half-yearly.
2. Find the amount and the compound interest on 32500 for 1 year; at 12% per annum, compounded
half yearly
3. Calculate the amount and the compound interest on 24000 for 1.5 years at 10% per annum, compounded half-yearly.
4. Calculate the amount and the compound interest on 10000 for 6 months at 12% per annum, compounded quarterly.
5. Calculate the amount and the compound interest on 15625 for 9 months at 16% per annum, compounded quarterly.
6. Calculate the amount and the compound interest on 2560000 for 1 year at 10% per annum, compounded quarterly.
Answers
Answer:
Example 1
Find the compound interest on Rs 1000 for two years at 4% per annum.
Solution: Principal for the first year =Rs 1000
SI\quad =\frac { P\times R\times T }{ 100 } \\ SI\quad for\quad 1st\quad year\quad =\frac { 1000\times 4\times 1 }{ 100 } \\ SI\quad for\quad 1st\quad year\quad =Rs\quad 40
SI=
100
P×R×T
SIfor1styear=
100
1000×4×1
SIfor1styear=Rs40
Amount at the end of first year =Rs1000 + Rs 40 = Rs 1040. Principal for the second year = Rs1040
SI\quad for\quad 2nd\quad year\quad =\frac { 1040\times 4\times 1 }{ 100 }
SIfor2ndyear=
100
1040×4×1
SI\quad for\quad 2nd\quad year\quad =Rs\quad 41.60
SIfor2ndyear=Rs41.60
Amount at the end of second year,
Amount=Rs1040+Rs41.60=Rs1081.60
Amount=Rs1040+Rs41.60=Rs1081.60
Therefore,
Compound\quad interest=Rs(1081.60–1000)=Rs81.60
Compoundinterest=Rs(1081.60–1000)=Rs81.60
Remark: The compound interest can also be computed by adding the interest for each year.
Browse more Topics under Compairing Quantities
Comparison Using Percentage
Uses of Percentage
Discount and Commissions
Growth and Depreciation
Profit and Loss
Ratio and Percentage
Tax
Compound Interest when Compounded Half Yearly
Step-by-step explanation:
Answer:
CI=p(1+r/100)^n.(Compounded annually).
CI=p(1+r/200)^2n.(Compounded half yearly).
CI=p(1+r/400)^4n.(Compounded quarterly).
Hope now you can solve it.