Question

calculate the compound interest and amount, if the interest is compounded in the given period. P=20,000; time = 1 year, rate 12% per annum ; interest compounded half-yearly​

Answer 1

Amount = P {1+R/100}^t

Here, interest is compounded half yearly so the rate of interest will be 12/2 = 6%

and the time will be 1 year = 2 half years

20000 {1+6/100}^2

20000 {1+3/50}^2

20000 {53/50}^2

20000 × 53/50 × 53/50 = 22472 [ Amount = 22472 ]

Now for C. I. = Amount - Principal

C. I. = 22472 - 20000 = 2472

Hence, the Amount is 22472 and the C. I. is 2472.

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