Question

2. Find the compound interest for the given principal, rate and time when compounded half-yearly. P = 350,000, R = 12% p.a., T = 36 months​

Answer 1

146481.689

Step-by-step explanation:

350000 x 106/100 x 106/100 x 106/100 x 106/100 x 106/100 x 106/100 = 496481.689

C.I. = Total - Principal

C.I. = 496481.689 - 350000 = 146481.689

Hope it helps

Answer 2

According to the formula of half yearly

→ Amount = P(1 + R/2/100)²ⁿ

Where,

• P = Principal
• R = Rate
• n = Time

★ Principal = Rs.350000

★ Rate = 12%

★ Time = 36 months = 36/12 = 3 years

As we know that

★ Compound interest = Amount - Principal ★

→ C.I = Rs.496481.68 - 350000

→ C.I = Rs.146481.68

Focus Zone :

★ Simple Interest = P × R × T/100

★ Amount = Principal + S.I

★ 1 year = 52 weeks

★ 1 year=366 days(leap year) or 365 days

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