Question

Manish borrowed 40.000 from a bank on compound interest at the rate of 10% per annum
for 1 year. What will be the amount and interest, if the compounding period is. ( b) sixmonths ​

Answer 1

Step-by-step explanation:

For Half Yearly

P=40000

R=10%p.a

a)T=1year or 2 half years

A=P(1+R/200)²ⁿ

A=40000(1+10/200)²

A=40000(21/20)²

A=40000*441/400

A=44100

CI=A-P

CI=44100-40000

CI=4100