Question

find the compound interest on rs 10000 for 2 and 1/2 years at 10% per annum compound half yearly​

Answer 1

Answer :-

Compound Interest = Rs. 6105.1

Given :-

Principal (P) = Rs. 10,000

Time (n) = $2\dfrac{1}{2}$ years = $\dfrac{5}{2}$ years

Rate of Interest (R) = 10%

Formula used :-

Amount (A) =  $P( 1 +\dfrac{R}{100})^{2n}$

Compound Interest (C.I.) = Amount - Principal

Solution :-

Finding amount

A =  $P( 1 +\dfrac{R}{100})^{2n}$

A = Rs. 10,000 × $( 1 +\dfrac{10}{100})^{2\times \frac{5}{2}}$

A = Rs. 10,000 × $( 1 +\dfrac{1}{10})^{5}$

A = Rs. 10,000 × $( \dfrac{10 + 1}{10})^{5}$

A = Rs. 10,000 × $( \dfrac{11}{10})^{5}$

A = Rs. 10,000 × $( \dfrac{161051}{100000})$

A = Rs. 16105.1

Now, finding C.I.

C.I. = A - P

C.I. = Rs. 16105.1 - Rs. 10,000

C.I. = Rs. 6105.1