Question

find the amount and the compound interest on 64000 rupees for 3/2 years at 15% per annum compounded half yearly

Answer 1

P = 64000, T = 3/2yrs , R = 15%

Answer 2

Answer:

The amount & interest will be Rs. 79507 & Rs. 15507 respectievly.

Step-by-step explanation:

Given, principle(p)=64000 Rs, time(n) = 3/2 years, rate(r)= 15% p.a compounded half yearly.

To find the amount & compound interest.

We know that, amount(A)=p[1+(r/100)]^n

As the evaluation to be done half yearly so rate became half i.e; r=7.5% & time = 3 years.

A=64000[1+(7.5/100)]^3

 =64000[1075/1000]^3

 =64000(1.075)^3

 =79507 Rs

Interest=Amount-principle

           =79507-64000

           = Rs. 15507

So, the amount & interest will be Rs. 79507 & Rs. 15507 respectievly.

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