Question

how much will ₹256 amount to in one year at 12.5% per annum when interest is compounded half yearly​

Answer 1

Answer:

289

Step-by-step explanation:

compounded half yearly means it will compound twice in a year

Answer 2

The sum amounts to Rs 289 when interest is compounded half yearly​

Solution:

Given that,

Principal amount = 256

Rate of Interest = 12.5 %

Number of years = 1

The formula for amount when compounded half-yearly is:

$A=P\left(1+\frac{R / 2}{100}\right)^{2 T}$

Where,

P is the principal amount

A is the total amount

R is the rate of interest

T is the number of years

Plugging in values, we get

$A=256\left(1+\frac{12.5}{2 \times 100}\right)^{2 \times 1}$

On solving we get,

$A=256\left(\frac{212.5}{200}\right)^{2}=256 \times 1.12890625=289$

Hence the total amount is Rs 289

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