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Compute the amount and the compound interest in each of the following by using the formulae when, Principal = Rs. 160000, Rate $= 10$ % per annum compounded half yearly, Time $= 2$ years.

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The amount and compound interest are Rs.194481 and Rs.34481.

The amount and compound interest are Rs.294481 and Rs.38181.

The amount and compound interest are Rs.142481 and Rs.33281.

The amount and compound interest are Rs.1732481 and Rs.22481.

answer is A.

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Detailed Solution

Given,

Principal (P) = Rs 160 000 Rate (R) = 10 % p .a . compounded half yearly Time (T) = 2 years or 4 half years

The formula to calculate the amount is given by,

A = P 1 + R 200 T ⋅ ⋅ ⋅ ⋅ ⋅ ⋅ (1)

Substitute the given value in equation (1) and solve for amount A,

⇒ A = 160000 1 + 10200 4 ⇒ A = 1600002102004 ⇒ A = Rs 194481

Compound interest,

C I = A − P ⇒ C I = 194481 − 160000 ⇒ C I = Rs 34481

Hence, the amount and compound interest are Rs.194481 and Rs.34481.
Hence, the correct option is 1.

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