Question

Find the compound interest on the 2500 at 6% p.a. for 2 years, compounded half-yearly. Also find the amount.

Answer 1

Answer ⤵️

As the interest being compounded half-yearly = ½×6=3

P= ₹2500

R= 3%p.a.

T=2 years

Principal for the first half-year = ₹ 2500

Interest for the first half-year= 2500×3×1/100= 75

Amount after the first half-year= ₹ 2500+75=2575

Principal for the second half-year= ₹2575

Interest for the second half-year= 2575×3×1/100=77.25

Amount after the second half-year= ₹ 2575+77.25=2652.25

Principal for the third half-year= 2652.25

Interest for the third half-year= 2652.25×3×1/100=79.5675

Amount after the third half - year= ₹2652.25+79.5675

=2731.8175

Principal for the fourth half-year=2731.8175

Interest for the fourth half-year= 2731.8175×3×1/100=

81.954525

Amount after the fourth half-year= ₹ 2731.8175+81.954525=2813.772025

Compound interest for 2 years= final amount-(original principal)

Compound interest for 2 years= ₹2500-2813.772025=

313.772025

Step-by-step explanation:

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