Question

Find the amount and the compound interest on rs 31250 for 1 1/2 years at 8% per annum ,compounded half-yearly.
pls help me ☺️​

Answer 1

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






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Answer 2

Answer:

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