Find the amount and the compound interest on Rs8000 for 1and1/2 years
at 10%P.a compounded half yearly.
Answers
Answer
Principal - 8000 Rs/-
Rate - 10%
Time - 1 and 1/2 year
We are divided into three parts.
PRT - I = 8000*10/100*1/2 = 400
amount end of six month = 8000+400 = 8400Rs/-
Principal = 8400 Rs/-
Rate = 10%
Time = 1/2 year
I2 = 8400*10/100*1/2 = 420
Amount end of 12 months = 8400+420 = 8820 Rs/-
P2 = 8820
R = 10%
Time = 1/2
I3 = 8820*10/100*1/2 = 441
Total Amount end of 1 and 1/2 year = 9261 Rs/-
Answer is 9261 Rs/-
Answer:
10,720.765125
Step-by-step explanation:
So, since it is compounded half-yearly we divide The rate by 2 (R/2) and double the time (Tx2).
T = 1&1/2 = 1 * 2 + 1 / 1 = 3 ; R = 10 = R / 2 = 5 ; P = 8000
compound Interest = p*( 1 + R / 100 )^n
= 8000*( 1 + 5 / 100)^6
= 8000*(100/100 + 5/100)^6
= 8000*(105/100)^6
= 8000 * (1.05) ^ 6
= 8000 * 1.340095640625(*approx)
= 10,720.765125
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