find the amount and the compound interest on Rs.32500 for 1 year at 12% per annum, compunded half yearly.
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Step-by-step explanation:
Answer:
Interest is Rs 1,950 and amount is Rs 34,450.
Step-by-step explanation:
It is given that the interest is being compounded half yearly.
Since the rate of interest is 12% per annum, therefore, the rate of interest half yearly = 1 / 2 of 12% = 6 %.
Here,
Principal ( P ) = Rs 32,500
Time = 1 year
From the properties of compound interest :
Interest = P x R x T / 100
Amount = Principal + Interest
= > Interest = ( Rs 32,500 x 6 x 1 ) / 100
= > Interest = Rs 325 x 6
= > Interest = Rs 1,950
Therefore,
= > Amount = Rs 32,500 + Rs 1,950
= > Amount = Rs 34,450
Hence, interest is Rs 1,950 and amount is Rs 34,450
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