Question

Find the amount on Rs 2500 for 1 year at 20% per annum compounded half yearly.​

Answer 1

Answer:

Amt = 3025

Step-by-step explanation:

Given:

Principle (P) = 2,500

Rate (R) = 20% i.e. 0.2%

Compounded half yearly

I.e. 0.2 ÷ 2 = 0.1

Time (N) = 1 yrs

$Amt = P[(1 + i)^n]$

$Amt = 2500[(1 + 0.1)^2]$

$Amt = 2500(1.1)^2$

Amt = 3025

Answer 2

• Required amount is equal to Rs. 3025.

Given :-

• Principal = P = Rs. 2500
• Time = T = 1 year
• Rate = R = 20% per annum compounded half yearly.

To Find :-

• Amount = A = ?

Concept used :- When rate is compounded Half - Yearly :-

We know that Half yearly Means Half of a year, when we Multiply it with 2 we will get a year . So, we have to make both time and rate as per annum . Then, we can say that in this case :-

• Rate is Divided by 2.
• Time is Multiply by 2 . ( To make it a complete year) .

Formula used :- when rate is compounded per annum :-

• A = P[1 + (R/100)]ᵀ
• A = Amount .
• P = Principal .
• R = Rate of interest per annum .
• T = Time .

Solution :-

first we will convert rate and time as per above told concept .

→ Rate per annum = R = 20 ÷ 2 = 10%

→ Time = 1 × 2 = 2 years .

So,

→ Principal = P = Rs. 2500

→ Time = T 2 year

→ Rate = R = 10% per annum .

then,

→ Amount = A = P[1 + (R/100)]ᵀ

putting values now,

→ A = 2500[1 + (10/100)]²

→ A = 2500[1 + (1/10)]²

→ A = 2500(11/10)²

→ A = 2500(121/100)

→ A = 25 × 121

→ A = Rs. 3025 (Ans.)

Hence, the required amount is equal to Rs. 3025 .

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