Question

4. Suraj invested ₹ 40,000 in a savings scheme for 1 year at 13% p.a., interest being compounded half yearly. How much will he get at the end of 1 year.
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Answer 1

Amount A at the end of n years at the rate of R% per annum is given by the formula,

A = P(1+R100)n

Given in the question,

P = Rs 4,000

R = 13% p.a

n = 1 years

Substituting in the equation,

A = 4000(1+5100)1

= 4000(105100)1

= Rs 4410

Therefore, the compound interest, CI = Amount A at the end of n years- Principal amount P

=A – P

= Rs 4,410 – Rs 4,000

= Rs 410

Answer 2

Answer:

5200 interest total amount 45200