Question

How much would a sum of Rs 16,000 amount to in 2 years at 10% per annum if the interest
is compounded half-yearly?
13. Find the compound interest on Rs5000 at the rate of 10%p.a. compounded semi-annually for
11 years.

pls show working too

Answer 1

Step-by-step explanation:

(1)principal=Rs.1,60,000

time=2 years or 24/12×2=4 half years

rate=10/2=5%per half year

amount=p[1+R/100]T

1,60,000[1+5/100]4

=1,60,000[1+5/100]4

=1,60,000×1.05×1.05×1.05×1.05

=1,94,481

compoundinterest=

amount-principal

=1,94,49l81-1,60,000

=34,481

(2)time double and rate half in calculating interest semi annually

5000(1+5/100)^3

=5000(1+1/20)^3

=5000(21/20)^3

=5000x9261/8000

=5788.12(app.)

compound interest=5788.12-5000=788.12