Question

find the amount and the compound interest on rs. 120000 at 8% per annum for 1 year, compounded half-yearly. please answer this question with solution

Answer 1

EXPLANATION.

• GIVEN

Rs = principal = 120000

rate = 8% per annum

Time = 1 year compounded half yearly,

To find the amount and the compound

interest.

according to the question,

we know that,

$\bigstar\green{\boxed{\large{\bold{a \: = p(1 \: + \frac{r}{100} ) {}^{ n }}}}}$

$\bold{120000(1 + \frac{4}{100} ) {}^{2} }$

$\bold{120000 \times \frac{104}{100} \times \frac{104}{100}}$

A = 129792

Formula of compound interest,

$\longrightarrow \green{\boxed{\bold{ci \: = a \: - p}}}$

C. I = 129792 - 120000

C. I = 9792

Therefore,

Amount = 129792

Compound interest = 9792

Answer 2

▪ Given -

• Principal = 120,000
• Rate of Interest = 8%
• Time = 1 year

▪ To Find -

• Amount
• Compound Interest (C.I)

▪ Solution -

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

We know basic formula for calculating Amount,

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

Placing Values,

$⟹a = 120000(1 + \frac{4}{100}) {}^{2}$

$⟹a = 120000 = \frac{104}{100} \times \frac{104}{100}$

$⟹a = 129792</strong><strong> </strong><strong>Rs</strong><strong>$

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

Now, we know Formula for compound Interest (C.I)

$★ \: ci = a - p$

Placing Values,

$</strong><strong>⟹ci</strong><strong> </strong><strong>=</strong><strong> </strong><strong>129792 - 120000$

$⟹ci = 9792</strong><strong> </strong><strong>Rs</strong><strong>$

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

⛬ Amount is Rs. 129,792 & Compound Interest on it is Rs. 9792

★ Note -

Here, in Qn. Half compound yearly denotes half of 8% = 4%