find C.I when principal is ₹8000 rate of intrest is 10% half yearly and time is 3 by 2
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Answer:
Given : Principal is Rs.8000 rate of interest is 10% half yearly and time is 3/2 years.
To find : Calculate the amount and compound interest ?
Solution :
The compound interest formula is
CI=A-PCI=A−P
Where, A is the amount
A=P(1+\frac{r}{n})^{nt}A=P(1+nr)nt
Here, P=Rs.8000 is the principal
r = 10%=0.1 is the interest rate
t=\frac{3}{2}t=23 is the time in years.
n is the compounded year n=2
Substitute the values,
A=8000(1+\frac{0.1}{2})^{2\times \frac{3}{2}}A=8000(1+20.1)2×23
A=8000(1.05)^{3}A=8000(1.05)3
\begin{gathered}A=8000\times 1.157625\\A=9261\end{gathered}A=8000×1.157625A=9261
The amount is Rs.9261.
The compound interest is
CI=9261-8000CI=9261−8000
CI=1261CI=1261
The compound interest is Rs.1261.
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