Find the amount and the compounded interest on Rs. 10000 for 3/2 years at 10% per annum, compounded half yearly. Would this interest be more than he would get if it was compounded annually?
Please solve it........
Answers
Answer:
Year=3/2x2=3 years
Rate=10/2=5%
A=P(1+R/100)^n
A=10000(1+5/100)^3
=10000(105/100)^3
=11576.25
CI=A-P
CI=11576.25-10000
CI=Rs.1576.25
Yes it is more than the interest compounded annually.
Hope this helps you
Hi mate here is the answer:-✍️✍️✍️
Here, Principal (P) = Rs. 10000,
Rate of Interest (R) = 10% = 5% (compounded half yearly)
Rate of Interest (R) = 10% = 5% (compounded half yearly)Time, n =3/2 years
= 3 years (compounded half yearly)
A=(P+r/100)^n
=10000(1+5/100)^3
=Rs. 11,576.25
Compound Interest (C.I.) = A – P
= Rs. 11,576.25 – Rs. 10,000
= Rs. 1,576.25
If it is compounded annually, then
If it is compounded annually, thenHere,
Principal (P) = Rs. 10000,
Rate of Interest (R) = 10%,
Time(T)=3/2 yrs.
or 1 +1/2 yrs.
Amount (A) for 1 year=
10000(1+1/100)^1
Rs. 11,000
Interest for 1/2 year
=11000*1*10/(2×100)
=Rs. 550
∴ Total amount = Rs. 11,000 + Rs. 550
∴ Total amount = Rs. 11,000 + Rs. 550= Rs. 11,550
Now, C.I. = A – P = Rs. 11,550 – Rs. 10,000
= Rs. 1,550