calculate the compound interest on rs 3500 at 6% per annum for 1 1/2 years the interest being compounded half yearly is
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Step-by-step explanation:
principal=rs3500
rate=6%
time=1 1/2=3/2
for half yearly
time =3/2x2=3year
rate=6/2=3%
now A=p{1+r/100}^3
=3500(1+3/100)^3
=3500(103/100)^3
=3500x103/100x103/100x103/100
=3500x1092727/1000000
=35x1092727/10000
=3824.5445
ci=A-p
=3824.5445-3500=324.5445
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