Govind borrows Rs. 18000 at 10% C.I compounded half-yearly. How much money does Govind gain in one year??

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Solution

Dear Student,

$T h e f o r m u l a f o r A m o u n t w h e n c o m p o u n d e d h a l f y e a r l y = P {(1 + \frac{R}{2 \times 100})}^{2 T} A = 18000 \times {(1 + \frac{10}{2 \times 100})}^{2 \times 1} = 18000 \times {(1 + \frac{1}{20})}^{2} = 18000 \times {(\frac{21}{20})}^{2} = 18000 \times (\frac{441}{400}) = 45 \times 441 = 19845 H e n c e p r o f i t a f t e r 1 y e a r = 19845 - 18000 = 1845$
Regards,

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Govind borrows Rs. 18000 at 10% C.I compounded half-yearly. How much money does Govind gain in one year??

Dear Student, The formula for Amount when compounded half yearly=P1+R2×1002TA=18000×1+102×1002×1=18000×1+1202=18000×21202=18000×441400=45×441=19845Hence profit after 1 year= 19845-18000=1845 Regards,