Find the compound interest on Rs. 32000 at 20 | vedclass

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(B) Given: Principal $(P) = Rs. 32000$,Rate $(R) = 20 \%$ per annum,Time $(T) = 1$ year.Since the interest is compounded half-yearly,the rate becomes

Vedclass · Accepted Answer

$6720$

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(B) Given: Principal $(P) = Rs. 32000$,Rate $(R) = 20 \%$ per annum,Time $(T) = 1$ year.Since the interest is compounded half-yearly,the rate becomes $R' = \frac{20}{2} = 10 \%$ per half-year,and the time becomes $n = 1 	imes 2 = 2$ half-years.The formula for compound interest is $CI = P \left[ \left( 1 + \frac{R'}{100} ight)^n - 1 ight]$.Substituting the values: $CI = 32000 \left[ \left( 1 + \frac{10}{100} ight)^2 - 1 ight]$.$CI = 32000 \left[ (1.1)^2 - 1 ight] = 32000 [1.21 - 1] = 32000 	imes 0.21$.$CI = 6720$.Therefore,the compound interest is $Rs. 6720$.

Find the compound interest on $Rs. 32000$ at $20 \%$ per annum for $1$ year,compounded half-yearly (in $Rs.$).

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