Question

Find the amount which Ram will get on rs 20981,if he gave for 18 months at 12 1\2% per annum compounded half yearly???(hint:find the compound interest)
And answer the ques. don't write anything other than the answer or u will be reported​

Answer 1

Answer:

Principal = 20981

In half yearly the rate of interest is half.

so, 12.5\2 = 6.25%

and time is double

Time = 18 months = 18\12×2 = 3 months

A = P(1+r\100) power n

A = 20981 (1+6.25\100)power 3 months

A = 20981 (17\16) power 3

A = 20981× 17\16× 17\16× 17\16

A = 25165.9309

Compound interest = Amount–Principal

Compound interest = 25165.9309–20981

= 4184.9309

I hope this answer is help you