Question

find the amount and the compound interest - principal $7000 ;rate p.c.p.a 10; duration year 4​

Answer 1

Step-by-step explanation:

Principal =7000, R =4%, n =2        (∵ semiannually compounded),

t =3 years

Using the formula, we have

A=P(1+100R)n.t

⇒A=7000(1+1004)2×3

⇒A =7000×(1.04)6

⇒A =7000×1.26531902

Amount =8857.23

Compound interest = Amount − Principal

=8857.23−7000

Compound interest =1857.23 Rs.

Answer 2

SI = P× T ×R

__________

100

7000×4=28000× 10= 280000

_______

100

=2800

=7000+2800 =9800