Find the amount and the compound interest on 50000 for 2 years at 2% per annum compounded
half yearly.
Find the compound interest on 5000 for 2 years at 5% per annum compounded half yearly.
plzzzz help me. plzzz
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Find the amount and the compound interest on 50000 for 2 years at 2% per annum compounded
half yearly.
Find the compound interest on 5000 for 2 years at 5% per annum compounded half yearly.
plzzzz help me. plzzz
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Answer:
hope it helps
Step-by-step explanation:
Principal for the first year = Rs. 10000
Interest for the first year =
Rs \dfrac{10000 \times 5 \times 1}{100} = Rs. 500
[We are using the formula
S.I.=\dfrac{P \times R \times T}{100} ]
\therefore amount at the end of first year = Rs 10000 + Rs. 500 = Rs. 10500
Interest for the second year =
\dfrac{10500 \times 5 \times 1}{100} = Rs. 525
Principal of the second year was Rs. 10500 and so amount at the end of the second year = Rs. 10500 + Rs. 525 = Rs. 11025
So, Compound interest= Rs. (11025 – 10000) = Rs. 1025