Question

find the amount and the compound interest on Rs.32500 for 1 year at 12% per annum, compunded half yearly.​

Answer 1

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