3. Find the compound interest on RS 62500
for 3/2
years at 8 percent per annum
Compounded half yearly. ,
Answers
Answered by
1
Answer:
The amount is Rs.70304 and Compound interest is Rs.7804
Step-by-step explanation:
Principal = 62500
Time = 3/2 years
Rate of interest = 8 % = 0.08
Compounded half yearly
No. of compounds per year = 2
Formula : A=P(1+\frac{r}{n})^{nt}A=P(1+
n
r
)
nt
A=62500(1+\frac{0.08}{2})^{2 \times \frac{3}{2}}A=62500(1+
2
0.08
)
2×
2
3
A=70304A=70304
Interest = Amount - Principal = 70304- 62500=7804
Hence the amount is Rs.70304 and Compound interest is Rs.7804
Similar questions