Question

Find the CI on 64000 for 1 1/2 years at 5% p.a., the interest being compounded half-yearly.​

Answer 1

Answer:

$\large \blue{ \mathbb {\bf {Given:-}}}$

$P = 64000$

$T = \frac{11}{2} years$

$R ={ 5 { \: \: percent}}$

$\large {\blue{Solution:-}}$

$I = \frac{P \times R \times T }{100}$

$I = \frac{64000 \times 5 \times \frac{11}{2} }{100}$

$= 581.81$

$Amount = 64000 + 581.8$

$= 64581.81$

Answer 2

Given :

Principle : ₹64000

Rate of interest : 5%

Time : 1½ years

To find :

The compound interest is it's compounded half-yearly.

Solution :

First, we'll find the amount by it's formula.

Amount :

$\sf \dashrightarrow Amount = Principle \bigg( 1 + \dfrac{Rate}{100} \bigg)^{T2}$

$\sf \dashrightarrow 64000 \bigg( 1 + \dfrac{5}{100} \bigg)^{1.5(2)}$

$\sf \dashrightarrow 64000 \bigg( 1 + \dfrac{1}{20} \bigg)^{3}$

$\sf \dashrightarrow 64000 \bigg( \dfrac{20 + 1}{20} \bigg)^{3}$

$\sf \dashrightarrow 64000 \bigg( \dfrac{21}{20} \bigg)^{3}$

$\sf \dashrightarrow 64000 \bigg( \dfrac{21^3}{20^3} \bigg)$

$\sf \dashrightarrow 64000 \bigg( \dfrac{9261}{8000}$

$\sf \dashrightarrow \dfrac{64000 \times 9261}{8000} = \dfrac{529704000}{8000}$

$\sf \dashrightarrow \cancel \dfrac{529704000}{8000} = 74088$

Now, we can find the compound interest.

Compound interest :

$\sf \dashrightarrow Amount - Principle$

$\sf \dashrightarrow 74088 - 64000$

$\dashrightarrow$₹$\sf 10088$

Hence, the compound interest is ₹10088.