1. Find the amount and the compound interest on 160000 for 2 years at 10% per annum,
compounded half-yearly.
Answers
Answered by
1
Answer:
Given Rate = 10% annum
= 5% per half year
time = 2 years = 4 half year
Amount =P(1+
100
R
)
n
=160000(1+
100
5
)
4
= Rs. 194481
Compound Interest = Amount - Principal
= 194481 - 160000
= Rs. 34481
Step-by-step explanation:
Find the amount and the compound interest on Rs 160000 for 2 years at 10% per annum compounded half-yearly. Solution: Here, principal = Rs 160000; rate = 10% per annum = 5% per half-year; Time = 2 years = 4 half years. ∴ Compound interest = Rs (194481 – 160000) = Rs 34481.
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