Question

Calculate the amount and the compound interest on Rs. 4000 for 2 years at 10% per annum, if the interest is payable half-yearly.​

Answer 1

Step-by-step explanation:

Principal P=Rs.4,000. Since the interest is compounded half-yearly the number of conversion periods in 1

1

/2

years are 3. Also the rate of interest per conversion period (6 months) is 10%×

2

1

=5%(0.05 in decimal).

Thus the amount A

n

(in Rs.) is given by

A

n

=P(1+i)

n

A

3

=4,000(1+0.05)

3

=4,630.50

The compound interest is therefore Rs. (4,630.50−4,000)

=Rs.630.50.

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Answer 2

SI-PRT/100

= P: Rs. 4000, R: 10%, T = 2 years.

= 4000×10×2/100

=80000/100

= 800.00 or 800

Therefore SI= Rs.800