Question

find the amount at the end of 1 year on sum of rs. 10000 at 6% pa compounded half yearly​

Answer 1

Rs 10609 is the amount at the end of 1 year on sum of Rs  10000 at 6% pa compounded half yearly​

Given:

• Principal P = Rs 10000
• Rate of interest R = 6 % per annum
• Time  t =  1 years
• n = 2  (  number of times interest is compounded in a year )

To Find :

• Amount at the end of 1 year

Step 1:

Apply formula for Amount (A) in case of compound interest

$A=P\left(1+\dfrac{r}{100n}\right)^{nt}$

Step 2:

Substitute the values P = 10000 , R = 6  , n = 2 , t = 1

$A=10000\left(1+\dfrac{6}{100\times2}\right)^{2\times1}$

Step 3:

Calculate the value of A

$A=10000\left(1.03}\right)^{2}$

A = 10609

Rs 10609 is the amount at the end of 1 year on sum of Rs  10000 at 6% pa compounded half yearly​