Question

2. Find the compound interest for the given principal, rate and time when compounded half-year.

P = 50,000, R = 12% p.a., T = 1 year​

Answer 1

Answer:

6,180

Step-by-step explanation:

R = 12% P.A = 6%

Amount = P (1 + R ÷ 100)^T

= 50,000(1+6÷100)^2

= 50,000(1+3÷50)^2

= 50,000((50+3)÷50)^2

= 50,000(53÷50)^2

= 50,000×53÷50×53÷50

=20×53×53

Amount = 56,180

C.I = Amount - Principal

C.I = 56,180 - 50,000

C.I = 6,180