Find the amount that Dravid would receive if he invest â¹8192 for 18 month at 12(1/2)%per annum the invest being compounded half yearly
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number of half years=3
rate is mentioned in terms of per annum
thus, it needs to be halved.
so, r= 12.5/2=6.25% or 25/4% per half yearly
amount=p(1+r)^t
=8192(1+25/400)^3
=8192(17/16)^3
=4096*2(17^3)/4096 (since 8192=4096*2 and 16^3 =4096)
=2*17^3= rs.9826
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