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
Maria invested Rs 8,000 in a business. She would be paid interest at 5% per annum compounded annually. Find.
1) The amount credited against her name at the end of the second year
2) The interest for the 3rd year.
What will be the compound interest on Rs 4000 in two years when rate of interest is 5% per annum?
Find the compound interest at the rate of 10% per annum for two years on that principal which in two years at the rate of 10% per annum gives Rs 200 as simple interest.
Anil borrowed a sum of Rs 9600 to install a handpump in his dairy. If the rate of interest is \[5\frac{1}{2} %\] per annum compounded annually, determine the compound interest which Anil will have to pay after 3 years.
Surabhi borrowed a sum of Rs 12000 from a finance company to purchase a refrigerator. If the rate of interest is 5% per annum compounded annually, calculate the compound interest that Surabhi has to pay to the company after 3 years.
Abha purchased a house from Avas Parishad on credit. If the cost of the house is Rs 64000 and the rate of interest is 5% per annum compounded half-yearly, find the interest paid by Abha after one year and a half.
Ramu borrowed Rs 15625 from a finance company to buy a scooter. If the rate of interest be 16% per annum compounded annually, what payment will he have to make after \[2\frac{1}{4}\] years?
Find the principal if the interest compounded annually at the rate of 10% for two years is Rs 210.
Find the rate at which a sum of money will become four times the original amount in 2 years, if the interest is compounded half-yearly.
Sum of money amounts to Rs 453690 in 2 years at 6.5% per annum compounded annually. Find the sum.
