Solve
Guides
Join / Login
Use app
Login
0
You visited us
0
times! Enjoying our articles?
Unlock Full Access!
Standard VIII
Mathematics
Finding CI When Rate Compounded Anually or Semi - Anually
Question
Find the compound interest of
500
for
1
year, compounded semi-annually at the rate of
3
%
per six months.
20.50
10.45
30.45
42.89
A
10.45
B
42.89
C
30.45
D
20.50
Open in App
Solution
Verified by Toppr
Principal
=
500
,
R
=
3
%
,
n
=
2
(semiannually compounded),
t
=
1
year
Using the formula, we have
A
=
P
(
1
+
R
100
)
n
.
t
A
=
500
(
1
+
3
100
)
2.
1
A
=
500
×
(
1.03
)
2
A
=
500
×
1.0609
Amount
=
530.45
Compound interest
=
Amount
−
Principal
=
530.45
−
500
Compound interest
=
30.45
Was this answer helpful?
3
Similar Questions
Q1
Find the compound interest of
500
for
1
year, compounded semi-annually at the rate of
3
%
per six months.
View Solution
Q2
Find the compound interest for Rs.
7000
for a period
3
years, compounded semi-annually at the rate of
4
%
per six months.
View Solution
Q3
Calculate compound interest of
2000
f
o
r
a
p
e
r
i
o
d
1
y
e
a
r
,
c
o
m
p
o
u
n
d
e
d
s
e
m
i
−
a
n
n
u
a
l
l
y
a
t
t
h
e
r
a
t
e
0.2$% per six months.
View Solution
Q4
Calculate the amount and compound interest, if principal is Rs
1500
, rate is
2
% (per six months) and compounded semi-annually.
View Solution
Q5
Find the compound interest on
6
,
000
at the rate of
9
%
p.a. for
18
months when interest is compounded semi-annually.
View Solution