Question

Find the amount which Raman will get on Rs 1096, if he gave it for 18 months at
12.5% per annum, if interest is compounded half yearly.

Answer 1

Answer:

1301.5

Step-by-step explanation:

Raman given amount = 1096

he given it for 18 months

interest per annum = 12.5%

interest per 1month =

$\frac{12.5}{12 } = 1.0416667\%$

interest per 6 months = 1.0416667 × 6

= 6.25%

interest per 18 months = 12.5%+6.25% = 18.75%

interest amount =

$\frac{18.75}{100} \times 1096 = 205.5$

Total amount Raman get after 18months

= 1096+ 205.5

= 1301.5