If principal = Rs 1,00,000. rate of interest = 10% compounded half yearly. Find
(i) Interest for 6 months
(ii) Amount after 6 months
(iii) Interest for next 6 months
(iv) Amount after one year

Solution:

The formula for compound interest is:

A = P(1 + r/100)ⁿ

A = Amount

P = Principal

r = rate of interest

n = conversion period

In the given problem statement :

P = Rs. 1,00,000

r = 5%

n = 6 months

(i) Interest for six months

A = 1,00,000(1 + 5/100)¹

= 1,00,000(1 + 0.05)

= 1,00,000(1.05)

= 1,05,000

Interest for six months = 1,05,000 - 1,00,000

= Rs.5000

(ii) Amount for six Months = Rs. 1,05,000

(iii) Interest for next six months

A = 1,05,000(1 + 5/100)

= 1,05,000(1.05)

= 1,10,250

Interest for next six months = Rs. 1,10,250 - Rs. 1,10,000

= Rs. 5,250

(iv) Amount for One year = Rs. 1,10,250

✦ Try This: If principal = Rs 2,00,000. rate of interest = 8% compounded half yearly. Find (i) Interest for 6 months. (ii) Amount after 6 months. (iii) Interest for next 6 months. (iv) Amount after one year.

☛ Also Check: NCERT Solutions for Class 8 Maths Chapter 8

NCERT Exemplar Class 8 Maths Chapter 9 Problem 85

If principal = Rs 1,00,000. rate of interest = 10% compounded half yearly. Find (i) Interest for 6 months, (ii) Amount after 6 months, (iii) Interest for next 6 months, (iv) Amount after one year

Summary:

If principal = Rs 1,00,000. rate of interest = 10% compounded half yearly. Find (i) Interest for 6 months = Rs. 10,000, (ii) Amount after 6 months = Rs 1,10,000, (iii) Interest for next 6 months = Rs. 11,000, (iv) Amount after one year = 1,21,000

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