Question

find the amount and the compound interest on rupees 12800 for 1 year at 15 by 2% per annum compounded semi annually

Answer 1

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Answer 2

Rs. 978 is the amount of compound interest.

Step-by-step explanation:

Given that,

Principal = Rs. 12,800

Time = 1 year

Rate = 15/2 %

Half-yearly period = 2

Half-yearly rate of Interest = 1/2 * 15/2 = 15/4%

By using the formulae,

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

A = $( 1 + \frac{15/4}{100})^{2}$

A = Rs. 13778

Compound interest = Rs. 13,778 - Rs. 12,800

= Rs. 978

Learn more: Find the compound interest

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