Find the amount and compound interest if P = Rs. 1000, R = 6% p.a. n= 1 year when the interest is
compounded half-yearly
Answers
Answered by
3
compound amount = P {1 + R/100}^N
as the amount compounded half - yearly so 6/2 = 3 is the rate
= 1000 { 1 + 3 / 100}^2
= 1000{103/100}^2
= (1000 X 103 X 103) / 100 X 100
= 103 X 103 / 10
= 1060.9
hence the amount = 1060.9
Interest = Amount - principal
=. 1060.9 - 1000
=. 60.9
=. 61 approximately
Attachments:
Similar questions