Question

1Find the CI, if Rs 1000 was invested for 1.5 years at 20% p.a. compounded half yearly. ​

Answer 1

Answer:

Compound Interest= Rs. 331

Step-by-step explanation:

P= Rs. 1000

T= 1.5 years= 3 conversion periods

Rate for half-year= 20/2=10%

Now,

Amount= P[1+(R/100)]^T

= 1000[1+(10/100)]³=1000[1+(1/10)]³

=1000(11/10)³=1000*11/10*11/10*11/10

=11*11*11= Rs. 1331

Now,

CI=A-P

= 1331-1000= Rs. 331