If the interest is compounded half-yearly, calculate the amount when the principal is Rs. 7,400; the rate of interest is 5% per annum and the duration is one year.

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Solution

$P = R s .7400 r = 5 % n = 1 y e a r A = P (1 + \frac{r}{2 \times 100})^{n \times 2} A = 7400 (1 + \frac{5}{2 \times 100})^{1 \times 2} = 7400 (\frac{205}{200})^{2} = R s .7774 .63$

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If the interest is compounded half-yearly, calculate the amount when the principal is Rs. 7,400; the rate of interest is 5% per annum and the duration is one year.

P=Rs.7400r=5% n=1 yearA=P(1+r2×100)n×2A=7400(1+52×100)1×2=7400(205200)2=Rs.7774.63

$P = R s .7400 r = 5 % n = 1 y e a r A = P (1 + \frac{r}{2 \times 100})^{n \times 2} A = 7400 (1 + \frac{5}{2 \times 100})^{1 \times 2} = 7400 (\frac{205}{200})^{2} = R s .7774 .63$