Question

find the amount and the compound interest on 5000 for 2 years at 2% per annum compounded half yearly.​

Answer 1

According to the question:

• As per given in the question, Principal on 5000 rupees for given 2 years time and 2%rate of interest.We are said to find amount and compound interest on half yearly.

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Given:

• Principal = 5000 rupees
• Time = Half yearly
• n = 2 years
• Rate = 2%

To Find:

• Amount=?
• Principal = ?

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Using Formula:

$\: \: \sf \: amount = p {(1 + \frac{r}{100} )}^{n \times t}$

Denote Amount be 'A' , Principal be 'P', Compound Interest be 'CI', Rate be 'R' and Time be 'T' as given here.

Now substitute the known values here

$\: \: \sf \: a = 5000 {(1 + \frac{2}{100} )}^{ \cancel2 \times \frac{1}{ \cancel2} } \\ \\ \: \: \sf \: a = 5000( \frac{51}{50} ) \\ \\ \: \: \sf \: \therefore \: a = 5100 \: rupees$

$\therefore$

Hence,Amount is 5100 rupees.

Now find Compound Interest

Using Formula:

$\: \: \sf \: compound \: interest = amount - principal$

Now substitute the known values

$\: \: \sf \: ci = 5100 - 5000 \\ \\ \: \: \sf \: ci = 100 \: rupees$

$\therefore$

Hence, Compound Interest is 100 rupees.

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