Maths-

General

Easy

Question

# If the interest is compounded half-yearly, calculate the amount when the principal is Rs7400, the rate of interest is 5% per annum and the duration is one year.

Hint:

### From the information provided, use the formula of total amount.

## The correct answer is: 7774.63 Rs

### Complete step by step solution:

We calculate the total amount by the formula …(i)

where P is Principal amount, T is number of years and R is rate of interest

Here, we have T = 1, P = 7400, R = 5% and A = ?

On substituting the known values in (i), we get

Rupees which can be rounded to 7774.63 Rs

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