Question

Find Compound Interest for principal 1500 at the rate 10% p.a. for half yearly​

Answer 1

Answer:

Given:

Principal(P)=1500

Rate of interest(r)=2%

Number of years=2(semiannually)

Formula:

Amount(A)=P(1+ 100r ) 2

⇒A=1500(1+100 ) 2

⇒A=1500×(1.2) 2

⇒A=2160

Compound Interest=A−P

=2160−1500

=660

Therefore, compound interest=660.

Answer 2

Answer:

∴ Compound interest is Rs. $75$.

Step-by-step explanation:

• In context with question asked,
• We have to find Compound Interest.
• It is given that, Principal (P) = Rs. $1500$

                Rate of interest (R) = $10$% per annum

                     Time period (n) = $\frac{1}{2}$ year = 1 ( Half year)

• For half year, Rate of interest (R) = $\frac{10}{2} =5$% per annum
• The formula for compound interest is given by,

            Compound Interest = $P+(1+\frac{r}{100} )^{n} -P$

                                      = $1500(1+\frac{5}{100} )^{1} -1500$

                                      = $1500(\frac{100+5}{100} )-1500$

                                      = $\frac{1500\times 105}{100} -1500$

                                      = $1575-1500$

                                      = Rs. $75$

• ∴ Compound interest is Rs. $75$.