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

SOLUTION:-

Given:

•Principal,(P)= Rs.20000

•Rate,(R)= 10% p.a.

•Time,(n)= 3/2 years.

To find:

•Amount

•Compound Interest.

Explanation:

Compound Half- yearly: 2 years

Time= 3/2 ×2

Time= 3 years.

According to the question:

We know that, formula of the compound Interest;

C.I.= Amount -Principal.

&

$A= P(1 + \frac{R}{100} ) { }^{n}$

So,

$= > A = 20000( 1 + \frac{10}{2 \times 100} ) {}^{3} \\ \\ = > A = 20000(1 + \frac{1 0}{200} ) {}^{3} \\ \\ = > A = 20000(1 + \frac{1}{20} ) {}^{3} \\ \\ = > A = 20000( \frac{20 + 1}{20} ) {}^{2} \\ \\ = > A = 20000( \frac{21}{20} ) {}^{3} \\ \\ = > A = 20000 \times \frac{21}{20} \times \frac{21}{20} \times \frac{21}{20} \\ \\ = > A = 20 \times \frac{9261}{8} \\ \\ = > A = Rs.(\frac{185220}{8}) \\ \\ = > A =Rs.23152.5$

Now,

C.I.= Rs. 23152.5 - Rs.20000

C.I.= Rs.3152.5

Hence,

•Amount=Rs. 23152.5

•C.I.= Rs.3152.5

Thank you.