Question

7,500 for 1 year at 16% per annum compounded half yearly.​

Answer 1

Answer:

Hint: In this question it is given that we have to find the amount of compound interest for Rs 7500 for 1 year at 8% per annum compounded half-yearly. So to solve this kind of problem we need know that,

Amount= A=P(1+R100)not

(1)

Where,

A=Final amount

P=Principle amount

R=Rate of interest

n=Number of times interest applied per time period

t=Number of time periods elapsed

Complete step-by-step solution:

Given data,

P=7500, R=8, n= 2 half-yearly= 2 times, t= 1 year=1

Therefore, Final amount,

A=P(1+R100)n0t

 =7500(1+8100)2×1

 =7500(1+225)2

 =7500(25+225)2

 =7500(2725)2

 =7500×2725×2725

 =12×27×27

 = 8784.

Answer 2

Answer:

• Final amount = Rs. $10,089$

• Compound interest = Rs. $2589$  

Step-by-step explanation:

Given : Initial principle amount (P) = Rs. $7500$

                     Rate of interest (R) = $16$% per annum

                                     Time (t) = $1$ year

To find : Compound interest (C.I.) = ?

Solution :

• It is given that Initial principle amount (P) = Rs. $7500$

                                 Rate of interest (R) = $16$% per annum

                                     Time (t) = $1$ year = $2$ (∵ Half yearly)

• We know the formula for Compound Interest,

        Compound Interest (A) = $P(1+\frac{R}{100} )^{nt}$

                                     = $7500(1+\frac{16}{100})^{2}$

                                     = $7500(\frac{100+16}{100})^{2}$

                                     = $7500(\frac{116}{100})^{2}$

                                     = $7500*1.345$

                                     = Rs. $10,089$  

• Now, Compound interest = $A-P$

                                   = $10089-7500$

                                   = Rs. $2589$  

• ∴ Final amount = Rs. $10,089$  
• Compound interest = Rs. $2589$