Question

1)Find the amount which Ram will get on Rs. 4096, if he gave it for 18 months at 12%, per annum interest being compounded half yearly

step by step full solution please​

Answer 1

Answer:

A = P[1 + (r/100)]n

P = ₹ 4096

n = 18 months = 112years

R = 1212 % p.a. compounded half-yearly

For calculation of Compound Interest (C.I.) compounded half-yearly, we will take the interest rate as half of

12

1

2

% i.e, (25/2) ÷ 2 = 25/4 %

and ‘n’ = 3 (Since, 18 ÷ 6 = 3)

A = P[1 + (r/100)]n

A = 4096[1 + (25/(100 × 4))]3

A = 4096[1 + (25/400)]3

A = 4096 × (425/400)3

A = 4096 × (17/16)3

A = 4096 × (17/16) × (17/16) × (17/16)

A = 4096 × (4193/4096)

A = ₹ 4913