Question

Find the compound interest on Rs 10000 at 5% p.a. for 2(1/2) years, the interest payable yearly​

Answer 1

Answer:

1,300

Step-by-step explanation:

A=P×(1+r/100)^n (1+r/200)^2n

=10000×(1+5/100^2 (1+5/200)2×1/2

=10000×(105/100)^2 (205/200)

Take L C M

= 10000×21/20×21/20×41/40

= 10×21/2×21/2×41/4

= 11,300.625

C.I = A-P

= 11300 - 10000

=1,300

Answef

Compound Interest is 1300

Answer 2

The total interest = 1300.625 Rs

Given:

Principal amount = 10000

Rate of interest = 5% per annum

Time period  = 2(1/2) years  

To find:

The compound interest for 2(1/2) years  

Solution:

As we know the formula for compound interest

      Compound interest = P(1+R/100)ⁿ - P  

Here P = Principal amount

         R = rate of interest

         n = time period

From given data,

P = 10000 , R = 5%  and n =2

[ First wil calculate for 2 years ]

Compound interest = 10000(1+5/100)² - 1000  

= 10000 [(1.05)² - 1 ]

= 10000 [0.1025 ]

= 1025

The compound interest for 2 years = 1025

The compound interest for 1/2 years

Here the principal amount = 10000+ 1025 = 11025

Interest on 11025 at rate 5% for 1/2 years

= [ 11025(1/2)(5) ]/100   [ we can use PTR/100 formula ]

= 275.625

Therefor, the interest on 10000 at end of 2 1/2 years = 1025+275.625

= 1300.625 Rs

The total interest = 1300.625 Rs

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