Question

calculate amount and CI on Rs 30500 for 1½ year at 8% p.a , compounded half yearly , with formula.​

Answer 1

Answer:

Amount =

$p \times {(1 + \frac{r}{200} )}^{2n}$

so Amount =

$30500 \times {(1 + \frac{8}{200}) }^{2 \times \frac{3}{2} } \\ 30500 \times {( \frac{200 + 8}{200} )}^{2} \\ 30500 \times \frac{208}{200} \times \frac{208}{200} = 32988.8$

So CI = A-P

= 32988.8-30500

=2488.8