Question

amit deposited a sum of 50,000 in a bank for 2 years compounded half yearly at 10% per annum. Find the compounded interest he gets

Answer 1

Hello

Here is your answer

Principle(p)=Rs.50000

Rate of interest per annum=10%

Rate of interest for half yearly(r)=1/2 *10 %=0.5 *10%=5%

Time=2

n=4 (since it is compounded half yearly)

$a = p(1 +\frac{r}{100}) ^{n}$

$a =50000 (1 + \frac{5}{100} )^{4}$

$a = 50000(\frac{20 + 5}{20} )^{4}$

$a = 50000(\frac{25}{20})^{4}$

$a = 50000\times\frac{ 390625}{160000}$

$a = 5\times\frac{390625}{16}$

$a = 5 \times 24414$

$a =122070$

Compound Amount=Rs.122070

Compound Interest=A-P

=122070-50000

=Rs.72070

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Answer 2

Answer:

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