Question

Compound interest on Rs. 10,000 invested for 1 year and 3 months at 8% per annum compounded
annually is

Answer 1

Step-by-step explanation:

Given,

Given,Principal (P) = 10,000

Rate (R)=8\% Per annum compounded half Yearly

=

$\frac{8}{2}\% \: per \: half \: year \:$

=4% Per Half year

Time (N) = 1Year =2 half years. (As 1 year=2 half rears)

Amount (A) =

$p( {1 + \frac{r}{100} })^{n}$

=

$10000(1 + \frac{4}{100} )^{2}$

=

$10000 ({ \frac{100 + 4}{100} })^{2}$

=

$10000( { \frac{104}{100} })^{2}$

=

$10000 \: \times \: \frac{104 \times 104}{100 \times 100}$

=

$10000 \: \times \: \frac{10816}{10000}$

= 10816

Therefore,Amount = Rs 10,816

Now,

Amount = Principal + Interest

10816 = 10000 + Interest

10816 - 10000 = Interest

816 = lnterest

therefore,interest = 816

Thus,

Thus,Amount =Rs 10,816

& Compound interest=Rs816

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