find the coumpund intrest on 7500 at 4 percent per annum for 2 years coumpunded semi anually
Answers
Answer:
Amount = Rs [7500*1+4/100 2 ] = Rs 7500 * 26/25 * 26/25 = Rs. 8112.
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Step-by-step explanation:
Given :-
Principle is Rs. 7500 ,
Time = 2 years
Rate of interest = 4%
Compounded semi annually
To find :-
Find the compound interest ?
Solution :-
Given that
Principle (P) = Rs. 7500
Time (T) = 2 years
If the interest is calculated compoundly per semi year then number of times the interest is calculated for 2 years = 4
n= 4
Rate of interest (R) = 4%
We know that
Amount (A) = P[1+(R/100)]^n
On substituting these values in the above formula then
=> A = 7500[1+(4/100)]⁴
=> A = 7500[(100+4)/100]⁴
=> A = 7500(104/100)⁴
=>A = 7500×104×104×104×104/100000000
=> A = 877393920000/100000000
=> A = 8773.9392
=> A = 8773.94
Amount = Rs. 8773.94
We know that
Amount = Principle+ Interest
=> Interest = Amount - Principle
=> Interest = 8773.94-7500
=> Interest = 1273.94
Therefore, Compound Interest = Rs. 1273.94
Answer:-
The Compound Interest for the given problem is Rs. 1273.94
Used formulae:-
→ Amount (A) = P[1+(R/100)]^n
- P = Principle
- R = Rate of Interest
- n = Number of times the interest is calculated compoundly
→ Amount = Principle+ Interest