Question

if the amount and CI on 7400Rs at 5% for 1 year if the interest is compounded half yearly​

Answer 1

Answer:

Rs. 7774.63 & Rs. 374.63, respectively.

Step-by-step explanation:

Sum = Rs. 7400

Rate p.a. = 5%

Pate per half year = 2.5%

Time = 1 year = 2 half years

Amount = 7400(1 + 2.5/100)^2 = 7400 × 102.5/100 × 102.5/100 = Rs. 7,774.625 = Rs. 7774.63

Compund Interest = Rs. 7774.63 - 7400 = Rs. 374.63