Question

find the compound interest for Rs.6000 at 9%per annum for 18months if the interest is compounded semi- annually​

Answer 1

The compound interest is ₹847.

Explanation:

Given:

• principal = ₹ 6000
• Rate=9%
• Time = 18 months = 1.5 years

The compound interest of semi-annually amount is given by

$- = > CI = A - P \\ = > CI = P \times {(1 + \frac{r}{200} )}^{2t} -P \\ = > CI = 6000 \times {(1 + \frac{9}{200} )}^{2 \times 1.5} - 6000$

$= > CI = 6000( {1.045}^{3} - 1) \\ = > CI = 6000(1.1412 - 1) \\ = > CI = 6000(0.1412) \\ = > CI = 847$

The compound interest is ₹847.

Answer 2

Compound interest  is about Rs 847 for Rs. 6000 at 9% per annum for 18 months if the interest is compounded semi annually

Given:

• P = Rs 6000
• r = 9 % per annum
• n = 18 months
• Compounded semi annually

To Find:

• Compound interest

Solution:

Interest = A - P    ( A = amount , P = Principal)

A = P (1 + r/100)ⁿ

CI = P (1 + r/100)ⁿ - P

Step 1:

Convert interest rate semi annually

r = 9/2  % half yearly

Step 2:

Convert times in block of 6 months

n = 18 month = 3 * 6 months

n = 3  half years

Step 3:

Substitute P = 6000 , n = 3 r = 9/2 and calculate CI

CI = P (1 + r/100)ⁿ - P

CI = 6000 ( 1 + 9/200)³ - 6000

CI = 846.99675

CI ≈ 847  Rs

Compound interest  is about Rs 847 for Rs. 6000 at 9% per annum for 18 months if the interest is compounded semi annually