Question

find the compound interest on Rs. 50,000 for 11 years at 14% per annum, compounded half-yearly.

INAPPROPRIATE ANSWERS WILL BE REPORTED!!!!​

Answer 1

Answer:

Principal, p = ₹50000

Rate of interest, r = 14 % per annum

Time,t = 11 years

Amount is given by

$a = p {(1 + \frac{r}{200} )}^{2t} \\ = 50000 {(1 + \frac{14}{200}) }^{22} \\ = 50000 {(1.07)}^{22} \\ taking \: log \: on \: both \: sides \\ log(a) = log(50000) + 22 log(1.07) \\ = 4.6990 + 22 \times 0.0293 \\ = 4.6990 + 0.6446 \\ = 5.3436 \\ taking \: antilog \: on \: both \: sides \\ a \: = antilog(5.3436) \\ = {10}^{5} \times 2.206 \\ = 220600$

Compound interest = ₹220600 - ₹50000

= ₹ 170600