Question

3. Find amount and compound interest when interest is compounded half yearly (c) P= 62,50,000; T = 2 years; R = 4% p.a.​

Answer 1

Principal = Rs 6250000

Time = 2 years (n)

Rate = 4% p.a.

Using the formula ,

Amount = P (1+R/2×100)^2 n

A/q

= A = 6250000 ( 1+4/2×100 )^(2×2)

= A = 6250000 (1+1/50)^4

= A = 6250000 (50+1/50)^4

= A = 6250000 (51/50)^4

= A = 6250000 × 51/50 × 51/50 × 51/50 × 51/50

= A = Rs 6,765,201

Now , we know the compound Interest

= C.I. = Amount - Principal

= C.I. = Rs 6765201 - Rs 6250000

= C.I. = Rs 515,201 ( Ans )

Answer 2

Answer:

P=6250000

T=2years

R=4%per annum then,

=interest for 1st year=4% of 6250000=250000

=then,Principal for 2nd year=6500000

=interest for 2nd year=4% of 6500000=260000

then the final amount is=6760000

hence, compound interest of 1st year=250000

compound interest of 2nd year=260000

final amount is=6760000