Question

Find the amount and compound interest on Rs 12500 for 1 year at 12 1/2% per annum,compounded semi-annually.

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Answer 1

Answer:

If interest is compounded semiannually , then

Rate of interest = 12% per annum = 6% per half–year , Time = 2 half years

Here , P = Rs. 12500

∴ C.I. = P 1 +

R

T − 1

100

C.I. = 12500 1 +

6

2 − 1

100

C.I. = 12500 1 +

3

2 − 1

50

C.I. = 12500

53

2 − 1

50

C.I. = 12500

2809

− 1

2500

C.I. = 12500

2809 - 2500

2500

C.I. = Rs.

12500 × 309

2500

∴ C.I. = Rs. 1545