Calculate the amount and compound interest on ₹156250 for 15 years at 8% per annum compounded half yearly ?
Answers
Answered by
1
Answer:Principal (P) = Rs 156250
Rate (R) = 8% p.a. or 4% half-yearly
Period (n) = 1
2
1
years = 3 half-year
Therefore,
Amount (A) = P {1 + (R / 100)}
n
= Rs 156250 {1 + (4 / 100)}
3
On further calculation, we get,
= Rs 156250 × (26 / 25)
3
= Rs 156250 × (26 / 25) × (26 / 25) × (26 / 25)
We get,
= Rs 175760
Hence,
Compound interest = Amount – Principal
= Rs 175760 – Rs 156250
= Rs 19510
Step-by-step explanation:
Similar questions