Find the compound interest for the given principal, rate and time when compounded half – yearly, if P = Rs. 4000 at R = 5% per annum of time = 36 months.
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Answers
Answer:
Given
Case-1
Principal = Rs. 4000
Rate = 5%
Time = 1 year
Interest compounded half yearly.
Case-2
Principal = Rs. 2000
Rate = 40%
Time = 1 year
Interest compounded quaterly.
Formula:
A = P (1 + r/100)t
Calculation:
For case-1
r = 5/2% = 2.5%
Time = 2
According to the formula
A = 4000 × (102.5/100) × (102.5/100)
⇒ A = 4,202.5
CI = 4,202,5 - 4,000 = 202.5
For case-2
r = 40/4 = 10%
Time = 4
According to the formula
A = 2000 × (110/100) × (110/100) × (110/100) × (110/100)
⇒ A = 2,928.2
CI = 2,928.2 - 2,000 = Rs. 928.2
Total interest = 202.5 + 928.2 = Rs. 1,130.70
∴ The total interest is Rs. 1,130.70
Answer:
Given
Case-1
Principal = Rs. 4000
Rate = 5%
Time = 1 year
Interest compounded half yearly.
Case-2
Principal = Rs. 2000
Rate = 40%
Time = 1 year
Interest compounded quaterly.
Formula:
A = P (1 + r/100)t
Calculation:
For case-1
r = 5/2% = 2.5%
Time = 2
According to the formula
A = 4000 × (102.5/100) × (102.5/100)
⇒ A = 4,202.5
CI = 4,202,5 - 4,000 = 202.5
For case-2
r = 40/4 = 10%
Time = 4
According to the formula
A = 2000 × (110/100) × (110/100) × (110/100) × (110/100)
⇒ A = 2,928.2
CI = 2,928.2 - 2,000 = Rs. 928.2
Total interest = 202.5 + 928.2 = Rs. 1,130.70
∴ The total interest is Rs. 1,130.70
Step-by-step explanation: