Math, asked by mallikaradhakrishna, 1 year ago

Sangeeta invested rs.20,000 at 8 % per annual . if the interest is compounded half yearly , then total interest earned by Sangeeta at the end of the year is:

Answers

Answered by Ashi111
2
Is it correct.........?
Attachments:
Answered by phillipinestest
0

Sangeeta’s total interest earned in  year end is Rs. 1632

Solution:

Given:

Principal amount invested by Sangeeta  =  Rs.20000 per year

Rate of interest per year = 8%

Interest compounded half early at interest rate 8% = \frac{r}{2}

Formula to find compound interest = \mathrm{p}\left[1+\frac{\left(\frac{r}{2}\right)}{100}\right]^{2 \mathrm{n}}

r = Rate of Interest, p = Money invested, n = Time of Investment.

Compound Interest = 20000\left[1+\frac{\left(\frac{9}{2}\right)}{100}\right]^{2}

20000\left[1+\frac{4}{100}\right]^{2}=20000\left[\frac{104}{100} \times \frac{104}{100}\right]=R s .21632

Total Interest earned = Compound Interest – Total amount = 21632 – 20000 = 1632

Similar questions