Question

Find the amount and the compound interest on rs 20000 for 3/2 years at 10 percent per annum compounded half-yearly

Answer 1

when we find compound interest and it is given half yearly divide rate of interest and time with 2 and if it is quarterly then divide rate of interest and time with 4.

Answer 2

The amount and the compound interest on rs 20000 for 3/2 years at 10 percent per annum compounded half-yearly are Rs.23152.5  and Rs.3152.5  respectively.

Step-by-step explanation:

Principal = Rs.20000

Time =$\frac{3}{2}$

Rate of interest = 10%

No. of compounds per year = 2

Formula : $Amount = P(1+\frac{r}{n})^{nt}$

$Amount = 20000(1+\frac{0.1}{2})^{2 \times \frac{3}{2}}$

Amount = 23152.5

Compound interest = Amount - Principal = 23152.5  - 20000=Rs.3152.5

Hence The amount and the compound interest on rs 20000 for 3/2 years at 10 percent per annum compounded half-yearly are Rs.23152.5  and Rs.3152.5  respectively.

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Find the amount and the compound interest on rs 160000 for 2 years at 10% per annum compound half yearly

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