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Question
Compute the amount and the compound interest in the following by using the formulae when:
Principal = Rs 10000, Rate 20% per annum compounded half-yearly, Time = 2 years
Solution
\[\text{ Applying the rule A = P }\left( 1 + \frac{R}{100} \right)^n \text{ on the given situations, we get: }\]
\[A = 10, 000 \left( 1 + \frac{20}{200} \right)^4 \]
\[ = 10, 000 \left( 1 . 1 \right)^4 \]
= Rs 14, 641
Now,
CI = A - P
= Rs 14, 641 - Rs 10, 000
= Rs 4, 641
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