Question

Calculate the amount and compound interest on

1). 62,500 for 1 and a half years at 8% per annum compounded half yearly. ​

Answer 1

Step-by-step explanation:

Given Principal (P)=62,500

Rate=8%Per annum or 4%per annum

Number Of Years=1and1/2

There will be 3 half years in 1 and half years

We Know,

A=P[1+R÷100]n

A=62500[1+4÷100]³

A=62500[26÷25×26÷25×26÷25]

A=70304

COMPOUND INTEREST =A-P

=RS 70304-RS 62500

=RS 7804