Question

find the compound interest on rs 18,500 for 1 year at 12 percent p.a. compounded half yearly

Gaurav borrowed rs 40,960 from the bank fo 3/2 at 25/2 percent p.a. compounded semi annually what amount should he replay at the end of 3/2 years
please answer me quickly and give answer with statement I will follow you​

Answer 1

Answer:

Given:

Principal = 18500

Time (n) = 1 year

Rate = 12%

Find:

Compounded half yearly

As we known that formula of compound interest is

Amount - principal

so first we find Amount

So

Amount = P(1+r/100)

And here given that compound half yearly

so

Rate ÷ 2

And Time × 2

12/2 = 6

and 1×2 = 2

A = P(1+r/100)

= 18500(1+6/100)^2

= 18500 × 106/100×106/100

= 18500× 11236/10000

= 207866000/10000

= 20786.6000

Amount = 20786.6

Compound interest = Amount - principal

= 20786.6 - 18500

= 2286.6

Compound interest = 2286.6