Question

Find the amount and the compound interest on ₹8,000 for 112 years
at 10% per annum,compounded half-yearly.

Answer 1

Step-by-step explanation:

ANSWER

P= Rs 8000

R=10% p.a

n=1.5 years

When compounded half-yearly,

We have:

A=P(1+200R)2n

A=8000(1+20010)3

A=8000(1.05)3

A= Rs 9261

Also, CI=A–P= Rs 9261– Rs 8000= Rs 1261