Question

find the compound interest on Rs. 50000 for 1 year at 14% per annum, compounded half-yearly​

Answer 1

ANSWER;

Rate of interest= 14 %

Per annum = 7% per half yearly .

Time = 1 years .

Principal = Rs. 50000.

Interest for the first half year

= Rs .( 50000 × 7 ×1 ) / 100

=. Rs . 3500

Amount. = ( 50000 + 3500 )

= Rs .53500

CI = Amount - Principal

= (53500 - 50000)

= Rs. 3500