Question

Find the amount on Rs. 1600 for
one year at the rate of 10% per annum
compunded half yearly.​

Answer 1

ANSWER

Principal =Rs.16000

Amount =Rs.18522

Rate =10% annually

Here, Rate =

2

1

×10=5% half yearly

Time n=?

Amount=Principal(1+

100

R

)

n

18522=16000(1+

100

5

)

n

⇒

16000

18522

=(1+

100

5

)

n

⇒

8000

9261

=(

20

21

)

n

⇒(

20

21

)

3

=(

20

21

)

n

∴ Period of the loan =3 half years =1

2

1

years

Answer 2

Answer:

Principal = Rs 1,60,000

Time = 2 years or 24/12×2= 4 half years

Rate = 10/2 = 5% per half year

Amount = P[1+R/100]T

=1,60,000[1+5/100]4

=1,60,000×1.05×1.05×1.05×1.05

= Rs 1,94,481

Compound Interest = Amount-Principal

= 1,94,481-1,60,000

= Rs 34,481.