Advertisements
Advertisements
Question
If principal = Rs 1,00,000, rate of interest = 10% compounded half yearly. Find
- Interest for 6 months.
- Amount after 6 months.
- Interest for next 6 months.
- Amount after one year.
Advertisements
Solution
Principal (P) = ₹ 100000
Rate of interest (R) = 10% compounded half-yearly
i. Interest for 6 months,
We know that,
Compound interest, CI = A – P
Where, `A = P(1 + R/200)^n` ...[For 6 months]
∴ `A = P(1 + R/200)^n = 100000(1 + 10/200)^1` ...[∵ n = 1 for 6 months]
= `100000 xx 21/20`
= ₹ 105000
∴ Compound interest, CI = A – P
= ₹ 105000 – ₹ 100000
= ₹ 5000
ii. Amount after 6 months = ₹ 105000
iii. Interest for next 6 months
Principal = Amount after 6 months
∴ Principal (P) = ₹ 105000
Rate of interest (R) = 10%
∴ `A = P(1 + R/200)^n`
= `105000(1 + 10/200)^1` ...[∵ n = 1 for 6 months]
= `105000 xx 21/20`
= `2205000/20`
= ₹ 110250
∵ Compound interest, CI = A – P
= ₹ 110250 – ₹ 105000
= ₹ 5250
iv. Amount after one year = ₹ 110250
APPEARS IN
RELATED QUESTIONS
Vasudevan invested Rs 60000 at an interest rate of 12% per annum compounded half yearly. What amount would he get
(1) after 6 months?
(2) after 1 year?
Find the compound interest on Rs 8000 for 9 months at 20% per annum compounded quarterly.
Find the compound interest on Rs 64000 for 1 year at the rate of 10% per annum compounded quarterly.
Meera borrowed a sum of Rs 1000 from Sita for two years. If the rate of interest is 10% compounded annually, find the amount that Meera has to pay back.
Kamal borrowed Rs 57600 from LIC against her policy at \[12\frac{1}{2} \%\] per annum to build a house. Find the amount that she pays to the LIC after \[1\frac{1}{2}\] years if the interest is calculated half-yearly.
Find the amount of Rs 12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.
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 2662 in \[1\frac{1}{2}\] years, interest being compounded half-yearly?
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.
If principal = Rs 1,00,000. rate of interest = 10% compounded half yearly. Find interest for next 6 months.
