Question

Gita borrowed rupees 50000 from finance company to build her new house at the rate of 20% annum compounded half yearly. Find the compound interest that she will pay after 2 years​?

Answer 1

Answer:

so it's just a try!!

let's begin,

ATQ,

as it is compounded half yearly,

so:

P = $50,000. [ it will remain same ]

R = 20%p.a. = 20/2 = 10%p.a. [ rate will be divided by 2 in case compounded half yearly ]

T = 2 × 2 = 4 years. [ time will be multiplied by 2 in case of compounded half yearly ]

A = P( 1 + r/100 )^n

A = 50,000( 110/100 )⁴

A = 50,000 × 11 × 11 × 11 × 11

10× 10× 10× 10

A = 73,205

C.I = $( 73,205 - 50,000 )

= $ 23, 205.

Hope that it maybe helpful!!

Answer 2

Answer:

P-50000 R-20%

20/2 in case of half yearly =10%

T=2 we multiply by 2 in this case 2*2=4

P(1+R/100)

50000(1+10/100)⁴

50000*11/10*11/10*11/10*11/10

5*11*11*11*11=rs73205

CI-73205-50000-23205