- AI Coach Study Modules, - Unlimited Mock Tests, - Study Improvement Plan. ₹ 9999/- ₹ 8499/- - AI Coach Study Modules, - Unlimited Mock Tests, - Study Improvement Plan. ₹ 13999/- ₹ 12499/- - AI Coach Study Modules, - Unlimited Mock Tests, - Study Improvement Plan. ₹ 9999/- ₹ 8499/- - AI Coach Study Modules, - Unlimited Mock Tests, - Study Improvement Plan. ₹ 13999/- ₹ 12499/- Chapter/Subject/Full Mock Tests for JEE Main, Personalized Performance Report, Weakness Sheet, Complete Answer Key,. ₹ 7999/- ₹ 4999/- Advertisement Remove all ads Advertisement Remove all ads Sum Find the compound interest on Rs.10000 for 2 years at 8% per annum compounded half-yearly. Advertisement Remove all ads SolutionPrincipal P = ₹ 10,000 Rate of interest R = 8% p.a. compounded half-yearly Duration T = 2 years A = P`(1 + (("R"/2))/100)^"2T"` = `10000(1 + (8/2)/100)^4` = `10000(1 + 4/100)^4` = 10000(1.04)4 = 11698.58 I = A – P = 11648.58 – 10000 = 1698.58 ∴ Compound interest is ₹ 1698.58. Concept: Simple and Compound Interest (Entrance Exam) Is there an error in this question or solution? Advertisement Remove all ads Chapter 9: Commercial Mathematics - Exercise 9.3 [Page 130] Q 5Q 4Q 6 APPEARS INBalbharati Mathematics and Statistics 2 (Commerce) 11th Standard HSC Maharashtra State Board Chapter 9 Commercial Mathematics Advertisement Remove all ads Find the total amount for a period of 6 months on the principal amount of Rs. 10,000 at 12% p.a. compounded quarterly.
Answer (Detailed Solution Below)Option 2 : Rs. 10,609 Free Bihar Police SI Prelims 2020: Full Mock Test 100 Questions 200 Marks 120 Mins Given: Time = 6 months Principal = Rs. 10,000 Rate of Interest = 12% p.a. compounded quarterly. Formula Used: A = P{1 + (R/100)}n where, A = Amount, P = Principal, R = Rate of Interest n = Number of times compounding is done Calculation: According to the question, Effective rate of interest = R/4 = 12/4 = 3% ----(Because interest is compounded quarterly) and n = 6/3 = 2 quarters ----(Because interest is compounded quarterly) Now, A = P{1 + (R/100)}n ⇒ 10,000 × {1 + (3/100)}2 ⇒ 10,000 × (103/100) × (103/100) ⇒ Rs. 10,609 ∴ The total amount is Rs. 10,609. Latest Bihar Police SI Updates Last updated on Sep 22, 2022 Bihar Police Sub-Ordinate Service Commission (BPSSC) has activated the link to download the mark sheet of Bihar Police Sub Inspector on 21st August 2022. The candidates, who appeared for Bihar Police SI exam, must check their results before 4th September 2022. For Bihar Police vacancy 2020, the BPSSC had released as many as 1998 vacancies for the post of sub-inspector and 215 vacancies for the post of sergeant. Those who could not make it to the final merit list, should not lose their heart as the notification for 2022 is expected to be out very soon. Let's discuss the concepts related to Interest and Compound Interest. Explore more from Quantitative Aptitude here. Learn now! Uh-Oh! That’s all you get for now. We would love to personalise your learning journey. Sign Up to explore more. Sign Up or Login Skip for now Uh-Oh! That’s all you get for now. We would love to personalise your learning journey. Sign Up to explore more. Sign Up or Login Skip for now Solution Principle=10000 time = 9 months=3 quarters Rate = 20% per annum = 5% per quarter => Amount = Rs. [10000*(1+5/100)^3)] =Rs.10000 * 21/20 * 21/20 * 21/20 = Rs. 11576.25 Compound interest=11576.25-10000 =1576.25Solve Textbooks Question Papers What is compounded every 6 months?If an account earns interest compounded every six months, the periodic interest rate per each six-month period is i = 12%/2 = 6%. If the account earns interest compounded quarterly, or four times a year, the periodic interest rate is i = 12%/4 = 3%.
What is the amount for Rs 10000 by compound interest at 8% rate for 2 years?This is an Expert-Verified Answer
What is the amount for Rs. 10000 by compound interest at 8% rate for 2 years, when compounded annually? The amount is ₹ 11664.
How do you calculate compound interest compounded quarterly?Cq = P [ (1+r)4*n – 1 ]. Cq is the quarterly compounded interest.. P would be the principal amount.. r is the quarterly compounded rate of interest.. n is the number of periods.. What is 5% compounded quarterly?For example, 5% interest with quarterly compounding has an effective annual yield of (1 + . 05/4)^4 - 1 = . 0509 or 5.09%.
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The compound interest on 10000 at 8% per annum for 6 months compounded quarterly is
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