calculate the amount and compound interest on 156250 for one and half years at 8% per annum compounded half yearly
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Given :-
- Principal = P = Rs.15625
- Time = T = 1(1/2) year = (3/2) years.
- Rate = R = 8% compounded half yearly.
To Find :-
- Compound interest = CI = ?
Solution :-
we know that, when rate is compounded half yearly,
- Rate = Half of given rate .
- Time = Double .
so,
- P = Rs.15625
- T = (3/2) * 2 = 3 years.
- R = 8/2 = 4% compounded yearly .
now, we know that,
- CI = P[{1 + (R/100)}^T - 1]
putting all values we get,
→ CI = 15625[{1 + (4/100)}³ - 1]
→ CI = 15625[{1 + (1/25)}³ - 1]
→ CI = 15625[(26/25)³ - 1]
→ CI = 15625[(17576/15625) - 1]
→ CI = 15625 * {(17576 - 15625)/15625}
→ CI = (15625 * 1951)/15625
→ CI = Rs.1951 (Ans.)
Learn more :-
CI in 2yr is Rs. 1600 and in 3 yrs it will be Rs. 1700. Find the rate of interest.
https://brainly.in/question/32463301
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Answer:
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