Question

Find the amount of rupees 4500 at 12% p.a in 4 year compounded half yearly?

Answer 1

please refer to the attachment

Answer 2

Given:

Principal amount, P = 4500rs

Rate of interest, R = 12% per annum

Time, t = 4 year compounded half yearly

To Find:

Amount of rupees after 4 years?

Solution:

Amount, A = P$(1+R/100n)^{nt}$

                { where P = principal amount

                              R = rate of interest

                              n = no. of times interest applied per time period

                              t = time period elapsed }

Therefore,

A = 4500$(1+12/200)^{2*4}$

A = 4500$(106/100)^{8}$

A = 7172.14 rs

Hence the amount of rupees will be 7172.14 rs.