The amount of rs.1000 for 1 year 2% per annum compounded half yearly
Answers
Answer:
Here, Principal P = Rs. 1000
R =10% per annum and n=2 years
∴ Amount after 2 years = P (1+
200
R
)
2n
= Rs. 1000×(1+
200
10
)
2×2
=Rs.1000×(1+
20
1
)
4
=Rs.1000×(
20
21
)
4
= Rs.1000×
20
21
×
20
21
×
20
21
×
20
21
=Rs.1215.50
Hence, compound interest = Amount - Principal
=Rs.1215.50−Rs.1000=Rs.215.50y-step explanation:
Answer:
Step-by-step explanation:
Solution: Principal for the first year =Rs 1000
S
I
=
P
×
R
×
T
100
S
I
f
o
r
1
s
t
y
e
a
r
=
1000
×
4
×
1
100
S
I
f
o
r
1
s
t
y
e
a
r
=
R
s
40
Amount at the end of first year =Rs1000 + Rs 40 = Rs 1040. Principal for the second year = Rs1040
S
I
f
o
r
2
n
d
y
e
a
r
=
1040
×
4
×
1
100
S
I
f
o
r
2
n
d
y
e
a
r
=
R
s
41.60
Amount at the end of second year,
A
m
o
u
n
t
=
R
s
1040
+
R
s
41.60
=
R
s
1081.60
Therefore,
C
o
m
p
o
u
n
d
i
n
t
e
r
e
s
t
=
R
s
(
1081.60
–
1000
)
=
R
s
81.60
Remark: The compound interest can also be computed by adding the interest for each year.