Question

find the amount and the compound interest on₹12,000 in one year at 10 peresent per annum compounded half-yearly​

Answer 1

Answer:Hence, the compound interest is Rs. 2,520

Step-by-step explanation:

Here P=12,000 Rs., n=2 years, R=10

Amount(A)=P(1+  

100

R

​  

)  

n

 

                    =12000(1+  

100

10

​  

)  

2

 

                    =12000(  

10

11

​  

)  

2

 

                    =  

100

12000×121

​  

 

                    =14,520 Rs.

Compound interest(C.I)=A−P=14,520−12,000=2520

Hence, the compound interest is Rs. 2,520