Question

Rs 1600 lent at a compound interest of 5% per annum compounded half yearly for one year will amount to

Answer with explanation​

Answer 1

Amount = Rs 842.7  & Compound interest = 92.7  Rs  on rs 750 lent at compound interest of 12% per annum for one year , if the interest is payable half yearly

Step-by-step explanation:

P = 750

R = 12 % per annum = 6% Half yearly

n = 1 Year = 2  Half Year

Amount = A

A = P (1  + R/100)ⁿ

A = 750 ( 1 + 6/100)²

A = 842.7‬

Amount = Rs 842.7

Compound interest = 842.7 - 750 = 92.7  Rs

Answer 2

Answer:

Given:

Principal = ₹1600

Rate = 5%

Time = 1 year

Formula:

$a = p(1 + \frac{r}{100} ) {}^{n}$

$= 1600(1 + \frac{5}{200}) {}^{1}$

$= 1600( \frac{205}{200 }) \\ = 1600 \times \frac{41}{40} \\ = 1640$

CI = A-P

= 1640 - 1600

= ₹40