Calculate compound interest on rs.10,000 over a period of 1 year at 10 percent per annum if interest is compounded half yearly
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Step-by-step explanation:
8th
Maths
Comparing Quantities
Compound Interest
Find the compound interest ...
MATHS
Find the compound interest on Rs. 10000 for 12 month at 10% per annum. If the interest is compounded.half yearly.
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ANSWER
P=Rs. 10000
T=12mon =1 year
R=10% p.a.
Compounded half yearly
n=2
∴A=P[1+
n
R
]
nT
=10000[1+
2
10
]
2×1
=10000[
2
12
]
2
=10000×6×6
A=360000
C.I=A−P
=Rs. (360000−10000)
=Rs. 260000.
solution
Answered by
1
Step-by-step explanation:
As interest is compounded half yearly,so there will be 2 conversion periods in a yearly.
so n=2
Rate of interest for 6 months rate=1/2*10%=5%
A=P(1+R/100)^n
A=1000(1+5/100)^2
=1000(105/100)^2
=1102.50
Compound interest=A-P=1102.50-1000=102.50
Hope this helps you
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