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
Now, From Compound Interest method
Amount = Principal × [tex](1+\dfrac{\textrm rate}{2\times 100})^{\extrm time\times 2}[/tex]
or, A = p × [tex](1+\dfrac{\textrm r}{2\times 100})^{\extrm t\times 2}[/tex]
Or, A = Rs 32,500 × [tex](1+\dfrac{\textrm 12}{2\times 100})^{\extrm 2\times 2}[/tex]
Or, A = Rs 32,500 × [tex](1.06)^{4}[/tex]
Or, A = Rs 32,500 × 1.26247
∴ A = Rs 41030.275
So,The Amount after 2 years = A = Rs 41030.275
Now, Again
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
