Question

Q1.Calculate the amount and compound interest on.
₹ 10,000for year at 8% per annum compounded
half yearly​

Answer 1

Explanation:

Given

we have given principal = ₹10,000

rate of interest is 8%

time period is 1 year

To find

we have to find compound interest and the amount

SOLUTION:

Rate is given in per cent form so, conveti into decimal form

8%=8/100= 0.08 per year

Then ,solve our Equation for A (amount)

A= P(1+r/n)ⁿᵗ

A=10,000(1 + 0.013333333/6)⁽⁶⁾⁽¹⁾

A=₹10,827.15

Amount= Principal+ Interest

10,827.15=10,000+Interest

Interest= 10,827.15-10,000

Interest=₹827.15

Summary:

The total amount accrued, principal plus interest,

from compound interest on an original principal of

₹ 10,000.00 at a rate of 8% per year

compounded 6 times per year

over 1 years is ₹ 10,827.15.