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What is the compound interest on a sum of rs 12600 for 11/2 years at 20% per annum I'd the interest is compund half yearly?
Most Upvoted Answer
What is the compound interest on a sum of rs 12600 for 11/2 years at 2...
Calculation of Compound Interest
The given values are:
Principal(P) = Rs 12600
Time(T) = 11/2 years
Rate of interest(R) = 20%
Frequency of compounding(n) = 2 (half-yearly)
Formula for calculating Compound Interest
Compound Interest = P(1 + R/n)^(nT) - P
Where,
P = Principal
R = Rate of interest
n = Frequency of compounding
T = Time in years
Calculation of Compound Interest
Step 1: Calculate the interest rate per half-yearly period
Interest rate per half-yearly period = R/n = 20/2 = 10%
Step 2: Calculate the number of half-yearly periods in 11/2 years
Number of half-yearly periods = 2 * T = 2 * 11/2 = 11
Step 3: Calculate the amount after 11 half-yearly periods
Amount = P(1 + R/n)^(nT) = 12600(1 + 10/100)^(11) = Rs 31808.08
Step 4: Calculate the compound interest
Compound Interest = Amount - Principal = 31808.08 - 12600 = Rs 19208.08
Therefore, the compound interest on a sum of Rs 12600 for 11/2 years at 20% per annum, compounded half-yearly is Rs 19208.08.
The given values are:
Principal(P) = Rs 12600
Time(T) = 11/2 years
Rate of interest(R) = 20%
Frequency of compounding(n) = 2 (half-yearly)
Formula for calculating Compound Interest
Compound Interest = P(1 + R/n)^(nT) - P
Where,
P = Principal
R = Rate of interest
n = Frequency of compounding
T = Time in years
Calculation of Compound Interest
Step 1: Calculate the interest rate per half-yearly period
Interest rate per half-yearly period = R/n = 20/2 = 10%
Step 2: Calculate the number of half-yearly periods in 11/2 years
Number of half-yearly periods = 2 * T = 2 * 11/2 = 11
Step 3: Calculate the amount after 11 half-yearly periods
Amount = P(1 + R/n)^(nT) = 12600(1 + 10/100)^(11) = Rs 31808.08
Step 4: Calculate the compound interest
Compound Interest = Amount - Principal = 31808.08 - 12600 = Rs 19208.08
Therefore, the compound interest on a sum of Rs 12600 for 11/2 years at 20% per annum, compounded half-yearly is Rs 19208.08.
Community Answer
What is the compound interest on a sum of rs 12600 for 11/2 years at 2...
Cl=p(1+I/2)n*2-1
cl=12600(1.10)3-1
cl=4170.6
4171(approximately)
cl=12600(1.10)3-1
cl=4170.6
4171(approximately)
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What is the compound interest on a sum of rs 12600 for 11/2 years at 20% per annum I'd the interest is compund half yearly?
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What is the compound interest on a sum of rs 12600 for 11/2 years at 20% per annum I'd the interest is compund half yearly? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about What is the compound interest on a sum of rs 12600 for 11/2 years at 20% per annum I'd the interest is compund half yearly? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the compound interest on a sum of rs 12600 for 11/2 years at 20% per annum I'd the interest is compund half yearly?.
What is the compound interest on a sum of rs 12600 for 11/2 years at 20% per annum I'd the interest is compund half yearly? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about What is the compound interest on a sum of rs 12600 for 11/2 years at 20% per annum I'd the interest is compund half yearly? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the compound interest on a sum of rs 12600 for 11/2 years at 20% per annum I'd the interest is compund half yearly?.
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