Question

Find the amount and the C.I. on ₹ 12,000 at 10% per annum compounded half-yearly.

Answer 1

Principal (P) = ₹12,000

Rate (r) = 10%

Time (t) = 1 years

Amount = ${\displaystyle \text{P}\times {(1+\frac{\text{r}}{2\times 100})}^{\text{n}\times 2}}$

${\displaystyle =₹12,000\times {(1+\frac{10}{200})}^2}$

${\displaystyle =₹12,000\times {\left(\frac{210}{200}\right)}^2}$

${\displaystyle =₹12,000\times \frac{21}{20}\times \frac{21}{20}}$

= ₹13,230

C.I. = Amount − Principal

= ₹13230 − ₹12000

= ₹1230