Rahim deposited 10000 rupees in a bank, which pays interest compounded half-
yearly. The annual rate of interest is 10%. How

2 thoughts on “Rahim deposited 10000 rupees in a bank, which pays interest compounded half-<br />yearly. The annual rate of interest is 10%. How”

1. Answer:

   amound get after one year

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2. Given :– Rahim deposited 10000 rupees in a bank, which pays interest compounded half- yearly. The annual rate of interest is 10%. How much should he get back after one

   year ?

   Answer :–

   we know that, When rate is compounded Half – Yearly :-

   • Half yearly Means Half of a year, when we Multiply it with 2 we will get a year .

   So we can say that in this case :-

   • Rate is Divided by 2.
   • Time is Multiply by 2 . ( To make it a complete year).

   so,

   • Rate = 10/2 = 5% per annum.
   • Time = 1 * 2 = 2 years.

   then,

   → Amount = P[1 + (R/100)]^time

   → A = 10000[1 + (5/100)]²

   → A = 10000[1 + (1/20)]²

   → A = 10000 * (21/20)²

   → A = (10000 * 441)/400

   → A = Rs.11025 (Ans.)

   Hence, Rahim gets Rs.11025 back after one year .

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