Question

find the compound interest on 250000 at the rate of 8 pratishat per annum for 2 years when interest is compounded help yearly​

Answer 1

Explanation:

Principal =rs250000

rate of interest=8%per annum

time period=2years

compound interest is half yearly so

8%=4% and 2 years =4 half years

compound interest =amount-Principal

so formula of amount =

$a = p ( { 1 + \frac{ r}{100} })^{t} \\ a = 250000( {\frac{10</strong><strong>4</strong><strong>}{100} }^{4} ) \\ a = 250000( { \frac{</strong><strong>26</strong><strong>}{25} })^{4} \\ a = 250000 \times \frac{</strong><strong>26</strong><strong>}{25} \times \frac{</strong><strong>26</strong><strong>}{25} \times \frac{</strong><strong>26</strong><strong>}{25} \times \frac{</strong><strong>26</strong><strong>}{25} \\ a = </strong><strong>731</strong><strong>1</strong><strong>6</strong><strong>1</strong><strong>6</strong><strong>$

compound interest =7311616-250000=rs292,464.64

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