Question

Find the compound interest on 1,50,000 for 1 1/2 years at the rate of 10% p.a. Compounded half yearly. pls ans

Answer 1

Answer:

Given,

Principal, P =Rs.50000, Rate, R = 10% per annum compounded half-yearly for 1 year.

Now, there are two half years in a year. Therefore compounding has to be 2 times.

And rate = half of 10% = 5% half yearly.

Therefore, the required amount = 50000(1+\frac{5}{100})^{2} = Rs 55125

And Compound Interest, C.I. = Amount - Principal

= Rs. (55125 - 50000)

= Rs. 5125