Find the compound interest on 10,000 for 1 year at 10% per annum if the interest is compounded half yearly
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P = 10000₹
r = 10% p.a. half yearly = 10/2 = 5% p.a. annualy
n = 1 year = 1×2 = 2 years (because rate of interest is taken half yearly)
as we know that A = P(1+r/100)^n. = 10000(1+5/100)^2 = 10000×105×105/10000 = 105×105 = 11025₹
CI = A-P
CI = 11025-10000 = 1025₹
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r = 10% p.a. half yearly = 10/2 = 5% p.a. annualy
n = 1 year = 1×2 = 2 years (because rate of interest is taken half yearly)
as we know that A = P(1+r/100)^n. = 10000(1+5/100)^2 = 10000×105×105/10000 = 105×105 = 11025₹
CI = A-P
CI = 11025-10000 = 1025₹
Thankyou Buddy.
HOPE it helps U. :-)
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