Question

Find the compound interest on 1000 at 10% per annum for 18 months when the interest is compounded half year​

Answer 1

Answer:

1331

Explanation:

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SOLUTION :-

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Given, principal, P = Rs. 1000

Compound rate, R = 20% per annum = 20/2 = 10% half-yearly

Time = 18 month = 3 half-years

Amount,

A = {P*[1+ (R/100)]n }

= {1000*[1+(10/100)]3}

= {(1000*11*11*11/10*10*10)}

A = Rs. 1331

Hence, compound interest = Rs. 1331

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Answer 2

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