Question

Find compound interest for RS 48000 for 1 1/2 years at the rate of 8 p.cp.a

Answer 1

time=1 1/2=3/2=3yrs(half yearly)

R=8%=4% (half yearly)

A=p(1+r/100)n

=48000(1+4/100)3

=48000(1+1/25)3

=48000(26/25)3

=48000×26/25×26/25×26/25

=674918.4