what is the compound interest if P =5000 R = 6% TIME. 1½
Answers
Answer:
Step-by-step explanation:
Compound interest would be Rs. 624.32.
Step-by-step explanation:
Since we have given that
Principal = Rs. 5000
Rate of interest = 8% p.a.
Number of years = 1 year 6 months =
So, Amount would be
So, Compound interest = Amount - Principal
C.I. = 5624.32 - 5000
C.I. = 624.32
Hence, Compound interest would be Rs. 624.32.
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What will be the compound interest on ₹ 5,000 if it is compounded half yearly at 8 % per annum
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similar question
What is the compound interest on rs 5000 for 4 years if the rate of interest is 10% p.A. For the first 2 years and 20% p.A. For the next 2 years?
Given:
Principal, P = Rs. 5000
Time period, n = 4 years
The rate of interest for the first 2 years = 10% p.a.
The rate of interest for the next 2 years = 20% p.a.
To find:
The compound interest
Solution:
The formula to find the amount and the compound interest is as follows:
\boxed{\bold{Amount, A = P [1+ \frac{R}{100} ]^n}}\\\\\boxed{\bold{C.I. = Amount - Principal}}
Therefore, substituting P = 5000, R for first 2 years = 10% & R for next 2 years = 20% in the first formula,
A = 5000 \times [1 + \frac{10}{100} ]^2 [1+ \frac{20}{100} ]^2
\implies A = 5000 \times [ \frac{110}{100} ]^2 \times [ \frac{120}{100} ]^2
\implies A = 5000 \times [1.1 ]^2 \times [ 1.2 ]^2
\implies A = 5000 \times 1.21 \times 1.44
\implies A = \bold{Rs. \:8712}
Now, substituting the value of A in the second formula,
C.I. = Rs.\: 8712 - Rs.\:5000 = \bold{Rs. 3712}
Thus, the compound interest is Rs. 3712.
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Step-by-step explanation: