Question

Find the amount that ram will get on ₹4096 if he gave it for 18 months At 12.5 per annum interest compounded half yearly ​

Answer 1

Here, Principal =Rs.40964

Time =18 months =3 half years

Rate =12 1/2 % per annum=(25/4%) per half year.

Amount=P(1+R/100)T

Amount=Rs.[4096×(1+ 25 / (4×100)^3

=Rs.(4096 × 17/6× 17/6× 17/6)

=Rs.4913