Question

find the amount and the compound interest on ₹31250 for 3/2 years at 8%per annum , compounded half yearly

Answer 1

3/2 years = 18 months
Time = 3 as we are taking half yearly
31250(1+8/100)power3
31250×27/25×27/25×27/25
39366
=39366-31250
=8116
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Answer 2

Answer:

The amount is  ₹35152 and the interest is ₹3902.

Step-by-step explanation:

Principal = ₹31250

Rate of interest = 8%per annum.

Time = 3/2 years = 1.5 year

The formula for interest:

$A=P(1+\frac{r}{n})^{nt}$

Where, P is principal, r is rate of interest, t is time in years and n is number of times interest compounded per year.

$A=31250(1+\frac{0.08}{2})^{2(1.5)}=35152$

The compound interest is

$I=A-P$

$I=35152-31250=3902$

Therefore the amount is  ₹35152 and the interest is ₹3902.