Question

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

P = 1000 R = 5% p.a. T = 36 month​

Answer 1

please I really need the answer can somebody's answer please

Answer 2

Answer:

159.69

Step-by-step explanation:

If 5% is the rate of interest per anum then for half yearly it is 2.5%.

Then it is 102.5%

Now we should calculate C.I. for 36 months compounded half yearly.

Let's do it in a shortcut method :-

principal x rate of interest x time

but in shortcut method

1000 x 102.5/100 x 102.5/100 x 102.5/100 x 102.5/100 x 102.5/100 x 102.5/100

so it is compounded half yearly for six times because 36 months has six 6 times.

And is 1159.69 Rs But we need to find C.I.

So C.I. = total - principal= 1159.69-1000 = 159.69