Find the amount and the compound interest on RS 32,000 for 1 year at 20% per annum compounded half-yearly.
Answers
Answer:
Principle (P)=Rs.32000 Time (T)=1 year
Rate R=20% per annum
Since it is compounded half year
the rate of interest is considered for the half yearly period
∴ Rate (R)=
2
20
%=10% per half year
Time(T) is 1 year=2 half-year
Amount=P(1+
100
R
)
T
=32000(1+
100
10
)
2
=32000(
100
121
)
Amount=38720
∴ Interest=Amount−Principle
=38720−32000
Interest=Rs.6720
Step-by-step explanation:
Answer:
Compound interest (CI) = 38720−32000 = Rs. 6720. Therefore, the compound interest is Rs. 6720 for T=1 year.
Step-by-step explanation:
Principle (P)=Rs.32000 Time (T)=1 year
Rate R=20% per annum
Since it is compounded half year
the rate of interest is considered for the half yearly period
∴ Rate (R)=
2
20
%=10% per half year
Time(T) is 1 year=2 half-year
Amount=P(1+
100
R
)
T
=32000(1+
100
10
)
2
=32000(
100
121
)
Amount=38720
∴ Interest=Amount−Principle
=38720−32000
interst rs 6780