Question

find the amount and the compound interest on ₹24,000 for 3 month at the interest being compounded half-yearly.​

Answer 1

Interest compounded half yearly

Interest compounded half yearly⟹r=(10%)/2=5% per interest period.

Interest compounded half yearly⟹r=(10%)/2=5% per interest period.No.of interest period (n)=2(3/2)=3P=Rs.2400

Interest compounded half yearly⟹r=(10%)/2=5% per interest period.No.of interest period (n)=2(3/2)=3P=Rs.2400CI=P[(1+100r)n−1]

Interest compounded half yearly⟹r=(10%)/2=5% per interest period.No.of interest period (n)=2(3/2)=3P=Rs.2400CI=P[(1+100r)n−1]CI=24000[(1+10010)3−1]=3783

Interest compounded half yearly⟹r=(10%)/2=5% per interest period.No.of interest period (n)=2(3/2)=3P=Rs.2400CI=P[(1+100r)n−1]CI=24000[(1+10010)3−1]=3783Hence, the compound interest=Rs.3,783