Question

Compute the compound interest on rs 5000 for 1 1/2 years at 16% per annum compounded half - yearly .
by the formula of S.I .


please answer very fast .

Answer 1

P of 1st time=5000
R=16%
T=1/2yrs
SI=5000×16×1/2×100
=400
A=5000+400
=5400

P of 2nd time= 5400
SI= 5400×16×1/2×100
=432
A=5400+432
=5832

P of 3rd time= 5832
SI= 5832×16×1/2×100
=466.56
A=6298.56

Answer 2

Principal = Rs 5,000

Time = 1 1/2 years =$\frac{3}{2}$ years

Rate of interest = 16 %

As the rate of interest is compounded half yearly

Rate of interest = $\frac{16}{2}=8%$%

Time =  $\frac{3\times2}{2}$  = 3 duration

Simple interest on the period of six months i.e ,when, n=1, P= Rs 5,000,R=8% is given by the formula:  = $\frac{{\text{Principal} }\times{\text{ Rate of interest} }\times {\text{Time}} }{100}$

=  $\frac{5000\times8\times1}{100}= 50 \times 8 =Rs 400$

Amount after six months = Rs 5,000 + Rs 400 = Rs 5,400

New Principal =Rs 5,400

Rate = 8%, Time = 1 (between 6 months and 12 months)

Simple interest(6 Months to 12 Months) = $\frac{5400 \times8 \times 1}{100} = 54 \times 8 = Rs432$

Amount after 12 months = 5400 + 432 =Rs 5,832

Simple interest (1 year to 3/2 years)  as rate = 8%, Time = 1 year

            =  $\frac{5832 \times8 \times 1}{100}=    \frac{46656}{100}=Rs 466.56$

Amount after 3/2 years = 5,832 + 466.56 =    Rs 6,298.56

So, Compound Interest = Amount after 3/2 years - Principal

                                       = 6,298.56 - 5,000

                                        =Rs 1,298.56