compound Interest on 156250 for 1 year 6 months at 8% per annum compounded half yearly
formula= A=P(R/100)^n
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Answer:
Principal (P) = Rs 156250
Rate (R) = 8% p.a. or 4% half-yearly
Period (n) = 121years = 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
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