Question

Calculate amount and compound interest on rs 31250 for 18 months at 16% p.a. compounded semi annually

Answer 1

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Answer:

Principal: ₹31250

Time: 18 months = 1½ years

This clearly shows that if it's semi annually it has to be paid 3 times...

Rate Given is 16%

Principal for 1 year= ₹31250

Interest = (P× R × T)/100 here we have to take time = ½ years

= 2500

Principal For 2nd year =

2500+ 31250= 33750= principal

Interest = (P× R × T)/100 here we have to take time = ½ years

= 2700

Principal For Third year = 2700+ 33750

= 36540

Interest = (P× R × T)/100 here we have to take time = ½ years

= 2916

CI = ( 39366-31250) = 8116

AND AMOUNT = ₹ 39366