Question

Find the amount and the compound interest on
1
* 31250 for 1 years at 8% per annum,
2
compounded half-yearlv.​

Answer 1

Answer:

Given:

Present value =₹ 31250

Interest rate =8% per annum

Time =1

2

1

year =3/2 year and compounded half-yearly

To find the amount we have the formula,

Amount (A)=P(1+(r/100))

n

where P is present value, r is rate of interest, n is time in years.

Now substituting the values in above formula we get,

∴A=31250(1+(8/2)/100)

3

⇒A=31250(1+4/100)

3

⇒A=31250(1+1/25)

3

⇒A=31250(26/25)

3

⇒A=31250×17576/15625

⇒A=₹ 35152

∴ Compound interest =A–P

=35452–31250=₹ 3902

Answer 2

Answer:

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