Question

Find the compound interest on 10.000 for 12 months at 10% per annum, if the interest is compounded find
1) annually 2) half-yearly​

Answer 1

1) Principle = ₹ 10,000

Rate of interest = 10% per annum or 10/100

Time = 12 months or 1 year

Simple Interest = P X R X T

= 10,000 X 12 X 10/ 100

= ₹ 12,000

2) Principle = ₹ 10,000

Rate of interest = 10% per annum or 10/100

Time = 6 months

Simple Interest = P X R X T

= 10,000 X 6 X 10/100

= ₹ 6,000