Answer:
The compound interest earn for amount deposited in bank is Rs 8,530.275
Step-by-step explanation:
Given as :
The principal deposited in account = p =Rs 32,500
The rate of interest = r= 12% compounded half yearly
The time period = t = 2 years
let The Amount after 2 years = Rs A
Let The compound interest earn = C.I
<u>Now, From Compound Interest method</u>
Amount = Principal ×
or, A = p ×
Or, A = Rs 32,500 ×
Or, A = Rs 32,500 ×
Or, A = Rs 32,500 × 1.26247
∴ A = Rs 41030.275
So,The Amount after 2 years = A = Rs 41030.275
<u>Now, Again</u>
Compound Interest = Amount - Principal
C.I = A - p
Or, C.I = Rs 41030.275 - Rs 32,500
∴ C.I = Rs 8,530.275
So,The compound interest earn = C.I = Rs 8,530.275
Hence, The compound interest earn for amount deposited in bank is Rs 8,530.275 Answer