2006-09-27 23:27:23 · 10 answers · asked by sil d 1 in Science & Mathematics ➔ Mathematics
When you calculate interest and if it is compounded it need to include how it is compounded, daily, Weekly, forth nightly(every 2 wks), monthly or yearly.
If not stated it is yearly.
In this case it is .11X50,000=5500
Rs.5500/-
Note it will be same as simple interest.
There is a formula for it but my key board does not permit me to enter the formula on it. I do not have certain keys.
PS
I had a chance to review the answers some are wrong, some are correct, some show the method and some have used the formula.
The one compounded daily should be the highest value, then monthly then yearly.
You can have compounding at any interval say every hour on the hour. It will give you lots of practise and fun to see the results.
Now hourly should give you highest value.
How about calculating at every second on the second for fun for just one minute.
2006-09-27 23:31:08 · answer #1 · answered by minootoo 7 · 0⤊ 0⤋
compound interest in this case = simple interest for one year as u have not mentioned whether it is compounded annually or semi annually. so the solution by the method of compound interest compounded annually would be as foll.:
Amount=P(1+r/100)^n
where p=50000
r=11%
n=1
so the total amount would be
50000(1+11/100)
= 55500
hence compound interest = amount- principal
=55500-50000
= Rs.5500
or by way of simple interest
interest= p x r/100 x t
= 50000 x 11/100 x 1
= Rs. 5500
2006-09-27 23:43:51 · answer #2 · answered by aniROX 2 · 0⤊ 0⤋
Rs 50000* 11/100=Rs 5500
2006-09-27 23:33:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Compound interest starts ONLY & ONLY when first year's interest has been added !! So in this case, interest is just 5500 but from second year it would be 50000+5500=55500@ 11% = 6105 .....and on
2006-09-27 23:38:57 · answer #4 · answered by Anonymous · 0⤊ 0⤋
if the interest is to be calculated at year basis
then ci will be the same as simple intt
as SI= P R T
as=50000*.11*1
or=5500
2006-09-28 01:40:24 · answer #5 · answered by c2 brahmin 2 · 0⤊ 0⤋
if A is ur amount then
A=50000*(1+11/100)^1
A=50000*(100+11/100)
A=50000*111/100
A=500*111
A=55500
compound interest = A-50000
= 55500-50000
= Rs 5550
2006-09-27 23:34:08 · answer #6 · answered by akbar 3 · 0⤊ 0⤋
5500
2006-09-28 01:54:10 · answer #7 · answered by bibhuti b 1 · 0⤊ 0⤋
5500=SI
amount=55500
2006-09-28 00:23:17 · answer #8 · answered by Anurag S 2 · 0⤊ 0⤋
month-----amount ------interest
1--50000--458.3333333
2--50458.33333--462.5347222
3--50920.86806-466.7746238
4--51387.64268--471.0533912
5--51858.69607--475.3713806
6--52334.06745--479.7289516
7--52813.7964--484.126467
8--53297.92287--488.564293
9--53786.48716--493.042799
10--54279.52996--497.562358
11--54777.09232--502.1233463
12--55279.21567--506.7261436
55785.94181--- final value
2006-09-27 23:34:05 · answer #9 · answered by jay Z 4 · 0⤊ 0⤋
5500Rs
2006-09-27 23:40:57 · answer #10 · answered by sultan 4 · 0⤊ 0⤋