Question

8. Find the amount and the compound interest on 10,000 for one and half years at 10% per
annum, compounded half yearly. Would this interest be more than the interest he
would get if it was compounded annually?​

Answer 1

Step-by-step explanation:

Given,

• Interest per annum :- 10%
• Amount :- 10000
• To be compounded :- for every six months

We know,

• if it is 10% per year then it is 5% for six months.

Hence,

• 10000x105/100x105/100x105/100 = 11576.25
• C.I. = 11576.25-10000 = 1576.25

Hope it helps