Question

Calculate the amount and the compound interest on * 16000 for 1 year at 15% per annum,
compounded half-yearly.​

Answer 1

Answer:

Given:

Principal =  Rs.16000

Time= 1 year

Rate= 15 %

Compounded half yearly,

Time = 1 × 2 = 2 half years

Rate =  $\frac{15}{2}$

Solution:

Amount =  $P (1 + \frac{R}{100} )^{n}$

$=16000 ( 1 + \frac{15}{2* 100} )^{2}$

$= 16000 ( 1 + \frac{15}{200}) ^{2}$

$=16000 ( 1 + \frac{3}{40})^{2}$

$= 16000 ( \frac{43}{40})^{2}$

$= 16000$ × $\frac{43}{40}$ × $\frac{43}{40}$

= 10 × 43 × 43

= 18490

Amount= Rs.18,490

CI = A - P

= Rs. 18490 - 16000

= Rs.2,490

CI = Rs.2,490

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