Question

Find the amount and the C.I on Rs 8000 in 3/2 years at 20% per year compounded half yearly

Answer 1

Step-by-step explanation:

Given Principle P=Rs.8000

Time t=1

2

1

=

2

3

years

But, as the interest is compounded half yearly t=

2

3

×2=3years

Rate of interest R=20%

A=P(1+

100

R

)

t

A=8000(1+

100

10

)

3

A=8000(

100

110

)

3

A=8000×(1.1)

3

A=8000×1.331

A=10648

CI=A−P

CI=10648−8000

CI=Rs.2648