Question

find the Cmpound intrest at the rate of 12% per annum for 3 years on the principle which in 5 year at the rate of 10% per annum yeild 26000 rupe as simple intrest
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Answer 1

Answer:

Given that,

Principle (P)=Rs. 32000

Time (T)=1 year

Rate R=20% per annum

Since it is compounded half yearly, the rate of interest is considered for the half yearly period.

∴ Rate (R)=20/2% 10 % per half year.

%=10% per half-year.

and Time (T) is 1 year, which is equal to 2 half-years.

We know that,

Amount=P(1+

100

R

)

T

[Compound interest formula]

∴ 32000(1+ 10/100)²

⇒32000(110/100)²

=32000×110/100×110/100

∴ Amount=38720

We also know that,

Interest=Amount−Principle

⇒38720−32000

∴ Interest=Rs.6720

Hence, the compound interest on Rs. 32000 at 20% per annum for 1 year, compounded half yearly, is Rs. 6720.

I hope its helpful to you....