Question

1. Find the amount and the compound interest on :
(i) * 4,000 for 1 year at 12% per annum, interest being compounded half-yearly
years at 10% per annum, interest being compounded half-yearly​

Answer 1

Answer:

Principal P=Rs.4,000. Since the interest is compounded half-yearly the number of conversion periods in 11/2 years are 3. Also the rate of interest per conversion period (6 months) is 10%×21=5%(0.05 in decimal).

Thus the amount An(in Rs.) is given by

An=P(1+i)n

A3=4,000(1+0.05)3

=4,630.50

The compound interest is therefore Rs. (4,630.50−4,000)

=Rs.630.50.

Answer 2

Answer:

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Step-by-step explanation:

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