If the interest is compounded half yearly, calculate the amount when the principal is
Rs.7400, the rate of interest is 5% and the duration is one year.
Answers
Answered by
83
Answer:
Amount = Rs.7774.625
Step-by-step explanation:
Refer the attachment
Attachments:
Answered by
105
- Amount is Rs 7774.625.
Step-by-step explanation:
Given :-
- Principal is Rs 7400.
- Rate of interest is 5%.
- Time period is 1 year.
To find :-
- Amount.
Solution :-
- Here, Interest is compounded half yearly.
So,
Where,
• r is rate of interest.
• P is principal.
• n is time period
Put, Values in formula :
Therefore,
Amount is Rs 7774.625 .
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Read more!!
• If the interest will be compounded annually or yearly than formula for amount will be :
• Formula for compound interest is :
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