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Find the compound interest on Rs. 10,000 in 2 years at 4% per annum, the interest being compounded half-yearly. |
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Answer» Principal = Rs. 10000; Rate = 2% per half-year; Time = 2 years = 4 half-years. Amount = Rs [10000 * (1+(2/100))4 ] = Rs(10000 * (51/50) * (51/50) * (51/50) * (51/50)) = Rs. 10824.32. ∴ C.I. = Rs. (10824.32 - 10000) = Rs. 824.32. |
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