Question

Find the compound interest on 1,20,000 Rs for 1.5 years at the rate of 4% per annum.

Answer 1

Answer:

Whenever the CI is calculated semi-annually Then, The Rate is halved and time is doubled

Let the time be n years

So, R=40/2

= 20%

Principal = Rs. 20,000

T= 2 x n = 2n years

= 2 x 1 years

= 2 years

Now using the formula A=P(1 +R/200)^2n

A = 20,000(1+40/200)^2

= 20,000 x 6/5 x 6/5

= 28,800 /-

CI = A - P

= 28,800 - 20,000

= 8,800

Hence the CI is Rs. 8,800 compounded half Yearly