Question

Find the amount and the compound interest on 32500 for 1 year; at 12% per annum, compounded half yearly.​

Answer 1

➠ Given:-

➵ Principal = ₹32500

➵ Rate = 12% p.a

➵ Time = 1 year

➠ To Find:-

➵ Compoud Interest. [compounded half yearly]

➵ Amount.

➠ Solution:-

❒ Rate = 12% p.a = 6% [∵compounded ½ yearly]

❒ Time = 1 year = 2 half-year

we know that,

$= > \: a = p {(1 + \frac{r}{100}) }^{t}$

where a = final amount ;

p = principal;

r = rate;

t = time;

$= > a = 32500 {(1 + \frac{6}{100} )}^{2}$

$= > a = 32500 \times \frac{106}{100} \times \frac{106}{100}$

∴ Amount = ₹36517.

we know,

❒ Compound Interest = Amount - Principal

∴ C.I = ₹36517 - ₹32500

∴ C.I = ₹4,107