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
Fabina borrows Rs 12,500 at 12% per annum for 3 years at simple interest and Radha borrows the same amount for the same time period at 10% per annum, compounded annually. Who pays more interest and by how much?
Mewa Lal borrowed Rs 20000 from his friend Rooplal at 18% per annum simple interest. He lent it to Rampal at the same rate but compounded annually. Find his gain after 2 years.
Find the compound interest on Rs 8000 for 9 months at 20% per annum compounded quarterly.
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.
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.
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.
Ishita invested a sum of Rs 12000 at 5% per annum compound interest. She received an amount of Rs 13230 after n years. Find the value of n.
Find CI paid when a sum of Rs. 10,000 is invested for 1 year and 3 months at `8 1/2%` per annum compounded annually.
If principal = Rs 1,00,000. rate of interest = 10% compounded half-yearly. Find amount after one year.
