Question

Calculate the amount and compound interest on

(a) Rs 10800 for 3 years at per annum compounded annually.
(b) Rs 18000 for years at 10% per annum compounded annually.

(c) Rs 62500 for years at 8% per annum compounded half yearly.

(d) Rs 8000 for 1 year at 9% per annum compound half yearly.

(You could use the year by year calculation using SI formula to verify)

(e) Rs 10000 for 1 year at 8% per annum compounded half yearly.

Answer 1

Answer:

Compound Interest Formulas and Calculations:

Calculate Accrued Amount (Principal + Interest) A = P(1 + r/n)nt

Calculate Principal Amount, solve for P. P = A / (1 + r/n)nt

Calculate rate of interest in decimal, solve for r. r = n[(A/P)1/nt - 1]

Calculate rate of interest in percent. R = r * 100.

Calculate time, solve for t.