Calculate the amount on Rs 62,000 for 1½ years at 8% per annum compounded half yearly
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Answered by
0
Step By Step Explaination:
Given, Principal (P) = Rs. 62,500
Rate =8 % per annum or 4 % per half year
Number of years = 1
2
1
There will be 3 half years in 1
2
1
years.
We know,
A=P[1+
100
R
]
n
⇒A=62500[1+(
100
4
)
3
]
⇒A=62500×
25
26
×
25
26
×
25
26
⇒A=70304
compound interest =A−P
= Rs. 70304 - Rs. 62500
= Rs.7,804
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2
Answer:
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