Advertisements
Advertisements
Question
For calculation of interest compounded half yearly, keeping the principal same, which one of the following is true?
Options
Double the given annual rate and half the given number of years.
Double the given annual rate as well as the given number of years.
Half the given annual rate as well as the given number of years.
Half the given annual rate and double the given number of years.
Advertisements
Solution
Half the given annual rate and double the given number of years.
Explanation:
If interest is compounded half-yearly, then `R = R/2` and T = 2T = 2n
Now, the amount will be
`A = P(1 + R/200)^(2n)`
∴ C = A – P
So, half the given annual rate and double the given number of years.
Hence, half the given annual rate and double the given number of years.
APPEARS IN
RELATED QUESTIONS
Find the compound interest when principal = Rs 3000, rate = 5% per annum and time = 2 years.
Rahman lent Rs 16000 to Rasheed at the rate of \[12\frac{1}{2} %\] per annum compound interest. Find the amount payable by Rasheed to Rahman after 3 years.
Find the amount that David would receive if he invests Rs 8192 for 18 months at \[12\frac{1}{2} \%\] per annum, the interest being compounded half-yearly.
Find the compound interest on Rs 15625 for 9 months, at 16% per annum, compounded quarterly.
In what time will Rs 4400 become Rs 4576 at 8% per annum interest compounded half-yearly?
Find the rate percent per annum, if Rs 2000 amount to Rs 2315.25 in an year and a half, interest being compounded six monthly.
A certain sum amounts to Rs 5832 in 2 years at 8% compounded interest. Find the sum.
Ashima took a loan of Rs 1,00,000 at 12% p.a. compounded half-yearly. She paid Rs 1,12,360. If (1.06)2 is equal to 1.1236, then the period for which she took the loan is ______.
The compound interest on a sum of Rs P for T years at R% per annum compounded annually is given by the formula `P(1 + R/100)`.
If principal = Rs 1,00,000. rate of interest = 10% compounded half yearly. Find amount after 6 months.
