Question

find the amount and the compound interest on 7500 for 1 year at 16% per annum compounded half yearly​

Answer 1

Answer:

Hey there,

your answer is above

Answer 2

Answer:

Amount :- 8748

C.I = 1248

Solution:

Given,

Principal = 7500

Rate per Annum = 16%

Time = 1 Year

We know that Its compounded Half yearly.

∴ Rate will be 8% and time will be taken as 2 year as an year splits into two halves.

Step 1 :- Use Amount's formula to find out the amount.

Amount's formula

A = P(1 + r/100)^n

Step 2 :- Put the given values in the formula.

• A = 7500 (1 + 8/100) ^2
• A = 7500 (1 + 2/25) ^2
• A = 7500 (25+2/25) ^2
• A = 7500 (27/25) ^2

Step 3 :- Open the brackets

• A = 7500 x 27/25 x 27/25
• 7500 gets canceled by 25
• 300 gets canceled by 25
• A = 12 x 27 x 27
• A = 8748

Now that we know the Amount We can find out the compound interest Easily

Step 4 :- Find the C.I

We know amount's simple formula when ci is known to us

Amount = C.I + Principal

If we split the terms and change them then we get,

C.I = Amount - Principal

• C.I = 8748 - 7500

• C.I = 1248

Now that we got Both the Amount and C.I respectively, the answer is solved.

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