(24) Find the amount and the compound interest on ₹10,000 for 1 1/2 years at 10% per annum, compounded half yearly. Would this interest be more than the interest he would get if it was compounded annually?
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Step-by-step explanation:
compounded half yearly amount...
A=P(1+R/100*2)^2*T
=10000(1+10/100*2)^2*1 1/2
=10000(210/200)^2*3/2
=10000(21/20)^3
=10000*21/20*21/20*21/20
=11576.25
C.I=A-P
=11576.25-10000
=1576.25
compounded annually amount.....
A=10000(1+10/100)^1 * (1+1/2*10/100)
=10000(110/100)^1 * (1+5/100)
=10000*11/10 * (105/100)
=10000*11/10 * 21/20
=11550
C.I=11550-10000
=1550
half yearly >annually
Hence, half yearly is more than annually
I hope it will help you
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