Question

If a sum of rs 10000 is deposited in a bank at 10% p.A compound half yearly for 15 months. What will be amount atthe end of time ?

Answer 1

If a sum of rs 10000 is deposited in a bank at 10% p.A compound half yearly for 15 months. What will be amount at the end of time ?

using formula,

A = P(1 + r/200)²ⁿ

where P is principal, r is rate of interest per annum and n is number of years.

given, P = 10000 , r = 10% and n = 15 months = 15/12 = 5/4 years

so, A = 10000(1 + 10/200)^{2 × 5/4}

= 10000(1 + 0.05)^{5/2}

= 10000(1.05)^{2.5}

= 10000(√1.05)^5

= 10000(1.0247)^5

= 10000 × 1.12975346

= 11297.5346 Rs ≈ 11300 Rs.

hence, amount at the end of 15 months will be 11300 Rs.

Answer 2

Answer:

Rs 11300.625

Step-by-step explanation:

If a sum of rs 10000 is deposited in a bank at 10% p.A compound half yearly for 15 months. What will be amount at the end of time ?

in Compound interest , interest is basically added as simple interest till the time of compounding.

At time of compounding the interest accured till that time is added in Principle

Interest in first 6 month = 10000 * 10 * (6/12)/100 = Rs 500

Principle amount after 6 month = 10000 + 500 = Rs 10500

Interest in next 6 months ( 6-12) = 10500 * 10 *(6/12)/100 = Rs 525

Principle amount after 12 month = 10500 + 525 = Rs 11025

Interest in next 3 months (12 - 15) = 11025 * 10 * (3/12)/100 = Rs 275.625

Amount after 15 Months= 11025 + 275.625 = Rs 11300.625