Question

find ci on rs 350 for 1 year at the rate of 4% pa the interest being payable half yearly

Answer 1

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Answer 2

Answer:

Step-by-step explanation:

Given,

P = Rs.350

T = 1 year = 2 half years

R = 4% p.a. = 4/2 per half year = 2% per half year

A = P (1 + R/100)^t

A = 350 (1 + 2/100)^2

   = 350 (1 + 1/50)^2

   = 350 (51/50)^2

   = 350 (2601/2500)

   = 91035/250

   = Rs. 364.14

Compound Interest = Amount - Principal

                                  = 364.14 - 350 = Rs.14.14