Question

3. Find the amount and compound interest on 20000 in 2½ years at 10% per annum.​

Answer 1

Answer:

The amount and the compound interest on rs 20000 for 3/2 years at 10 percent per annum compounded half-yearly are Rs.23152.5 and Rs.3152.5 respectively.

Step-by-step explanation:

Principal = Rs.20000

Time =\frac{3}{2}

Rate of interest = 10%

No. of compounds per year = 2

Formula : Amount = P(1+\frac{r}{n})^{nt}

Amount = 20000(1+\frac{0.1}{2})^{2 \times \frac{3}{2}}

Amount = 23152.5

Compound interest = Amount - Principal = 23152.5 - 20000=Rs.3152.5

Hence The amount and the compound interest on rs 20000 for 3/2 years at 10 percent per annum compounded half-yearly are Rs.23152.5 and Rs.3152.5 respectively.