Find compound interest on Rs.10000 for 2
years at 8% per annum compounded half
yearly
• 1.1
Answers
Answer:
Find the amount and the compound interest on Rs 10,000 for
years at 10% per annum, compounded half yearly. Would this interest be more than the interest he would get if it was compounded annually?
Answers (1)
S seema garhwal
Answered 1 year, 5 months ago
Principal = Rs.10,000
Time =
years
Rate = 10% per annum
CASE 1 Interest on compounded half yearly.
Rate = 10% per annum = 5 % per half yearly
= Amount
CI = Amount - principal
CI =
CI = 1576.25
CASE 2 Interest on compounded anually
Rate = 10% per annum
= Amount
CI = Amount - principal
CI =
CI = 1000
Interest for half years on 11000 =
= 550
Total interest =
= RS 1550
Since 1576.25
1000
Thus, interest would be more in CASE 1 i.e. compounded half yearly
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