Question

Find the compound interest if principal is equal to 31250 rupees, time equals to 3/2 years and rate is equals to 8% compounded half yearly

Answer 1

Answer:

8116

Step-by-step explanation:

compound interest formula is A=p(1+r/100)^n

a=p(1+8/100)³

a=p(108/100)³

a=31250(108/100)³

a=39366

we know that I=a-p

I=39366-31250

I=8116.

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