calculate the ci on ₹8000 in 1 1/2 yrs at 10%compounded half yearly explain
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Answer:
Given that
P = ₹8,000
R = 10 % p.a.
T = 1 1/2 year = 3/2 years
Solution
When the interest is compounded half - yearly
A = P(1+R/200)^2n
= 8,000(1+10/200)^2 × 3/2
= 8,000(200+10/200)^3
= 8,000(210+200)^3
= 8,000(21/20)^3
= 8,000 × 9,261/8,000
= ₹9,261
C.I. = A - P
= ₹(9,261 - 8,000)
= ₹1,261
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