find the amount and compound interest on rupees 7500 at 4% per annum for 1 year compounded half yearly
Answers
Answered by
8
Answer:
Amount = Rs [7500*(1+(4/100)2] = Rs (7500 * (26/25) * (26/25) ) = Rs. 8112.
therefore, C.I. = Rs. (8112 - 7500) = Rs. 612.
Answered by
3
Answer:
interest is 4%pa for 1 years which is compounded half yearly
that is as good as
Rate of Interest = 2%
Period (n) = 2
formula for calculating compound interest is
P[(1+i)^(n) -1]
where
P= Principle Amount
i= rate of interest divided by 100
Compound Interest = 7500[(1+0.02)^(2)-1]
=7500[1.02^(2)-1]
=7500 (1.0404 -1)
=7500 × 0.0404
=303 Rs.
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