Question

Find the amount on the sum of ₹2000 for 1 year at 10% per annum compounded half-yearly.

Answer 1

Answer:

200

Step-by-step explanation:

10 ÷ 2000

=200

the ten percent amount is 200

Answer 2

Answer:

The amount on the sum of ₹2,000 for 1 year at the rate of 10% compound half-yearly is ₹441,000

Explanation :

Here, we need to find the amount on a sum of ₹2,000 for 1 year at the rate of 10% compounded half-yearly.

Using the amount formula :

$\sf \to Amount = p \bigg(1 + \dfrac{r}{100} \bigg)^{n}$

Where,

• p(principal) = 2,000
• r(rate) = 5% [compounded half-yearly]
• n(time) = 2 years. [compounded half-yearly]

So,

$\sf \to p \bigg(1 + \dfrac{r}{100} \bigg)^{n}$

$\sf \to 2000 \bigg(1 + \dfrac{5}{100} \bigg) ^{2}$

$\sf \to 2000 \bigg(1 + \frac{1}{20} { \bigg)}^{2}$

$\sf \to 2000 \bigg( \frac{21}{20} { \bigg)}^{2}$

$\sf \to 100 \times {21}^{2}$

$\sf \to 44100$

${ \therefore{ \underline{ \sf{The \: amount \: compounded \: half - yearly \: is \: ₹44100}}}}$

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Note behind :

• When, any sum is compounded half-yearly it means the interest added after half of time. So, amount will be calculated half of the rate and time.