Find the amount and the compound interest on ₹2560 for 1(1)/(2) years at 6(1)/(4)% per annum the interest being compounded semi-annually.
Answers
Answer:
A = Rs 2807.58; CI = Rs 247.58
Step-by-step explanation:
1(1)/(2) = 3/2
6(1)/(4)= 25/4
I hope the image is understandable. pls mark as brainliest
Answer: The compound interest on ₹2560 for 1 and 1/2 years at 6.25% per annum compounded semi-annually is ₹247.58. The final amount after 1 and 1/2 years is ₹2807.58.
To solve this problem, we need to use the formula for compound interest:
A = P(1 + r/n)^(nt)
where:
A = the amount after t years
P = the principal amount (initial investment)
r = the annual interest rate (as a decimal)
n = the frequency of interest compounding annually
t = the time period in years
In this case, we have:
P = ₹2560 (the principal)
r = 6.25% per annum (the annual interest rate)
n = 2 (interest is compounded semi-annually, so n=2)
t = 1.5 years (1 and 1/2 years)
We must first figure out the semi-annual interest rate:
i = r/n = 6.25%/2 = 3.125%
Next, we can use the formula to find the amount after 1.5 years:
A = P(1 + i)^nt
= ₹2560(1 + 0.03125)^(2*1.5)
= ₹2807.58
So, the amount after 1.5 years is ₹2807.58.
The compound interest can be calculated by subtracting the principal from the amount:
Compound Interest = A - P
= ₹2807.58 - ₹2560
= ₹247.58
Therefore, the compound interest on ₹2560 for 1 and 1/2 years at 6.25% per annum compounded semi-annually is ₹285.45. The final amount after 1 and 1/2 years is ₹2845.45.
Learn more about compound interest here
https://brainly.in/question/1128320
Learn more about compound interest here
https://brainly.in/question/49353677
#SPJ2