calculate the compound interest on 12,000 for 1 ½ years at the rate of 10% per annum when interest is compounded half yearly
Answers
Answer:You have learned about the simple interest and formula for calculating simple interest and amount. Now, we shall discuss the concept of compound interest and the method of calculating the compound interest and the amount at the end of a certain specified period. We shall also study the population growth and depreciation of the value of movable and immovable assets
Step-by-step explanation: the borrower and the lender agree to fix up an interval of time (say, a year or a half year or a quarter of a year etc) so that the amount (Principal+ interest) at the end of an interval becomes the principal for the next interval, then the total interest over all the intervals, calculated in this way is called the compound interest and is abbreviated as C.I.
Compound interest at the end of a certain specified period is equal to the difference between the amount at the end of the period and original principal i.e. C.I. = Amount – Principal. In this section, we shall discuss some examples to explain the meaning and the computation of compound interest. Compound interest when interest is compounded annually.
Step-by-step explanation:
Let time taken by one man alone=x days
time taken by one boy alone =y days
4/x+6/y=1/20
3/x+4/y=1/28
8/x+12/y=1/10
9/x+12/y=3/28
-1/x=(14-15)/140
x=140 days
4/x+6/y=1/20
6/y=7-4/140
y=280 days