what is the compound interest on Rs. 200 for 1 year at 10% rate compounded half - yearly
Answers
Step-by-step explanation:
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.215.50
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Given :-
- Principal = Rs.200
- Time = 1 year.
- Rate = 10% compounded half-yearly .
To Find :-
- Compound interest = ?
Solution :-
we know that, when rate is compounded half - yearly,
- Time = 2 times = 1 * 2 = 2 years.
- Rate = Half = 10 / 2 = 5% per annum .
- Amount = P[1 + (R/100)]^(time)
- CI = Amount - Principal .
putting values we get,
→ A = 200[1 + (5/100)]²
→ A = 200 * [1 + (1/20)]²
→ A = 200 * (21/20)²
→ A = (200 * 441)/400
→ A = (441/2)
→ A = Rs.220.5 .
therefore,
→ CI = A - P
→ CI = 220.5 - 200
→ CI = Rs.20.5 (Ans.)
Hence, Amount after 1 year is Rs.220.5 and compound interest recieved is Rs.20.5 .
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