Question

find the compound interest on 1000 at the rate of 8% per annum for 1 1/2 years when interst is componded half yearly​

Answer 1

• Principal amount (P) = 1000 Rs.

• Rate of interest (R) = 8% p.a.

• Time (n) = 1 whole ½ years = 3/2 years

★ Now, interest is compound half yearly,

=> R = 8 × 1/2 = 4%

=> n = 3/2 × 12/6 = 3/2 × 2 = 3 half years

★ Then,

Amount (A),

= P × (1 + R/100)^n

= 1000 × (1 + 4/100)^3

= 1000 × (104/100)³

= 1000 × 104/100 × 104/100 × 104/100

= 1000 × 104 × 104 × 104/100 × 100 × 100

= 1124864000/1000000

= 1124.864

★ Now,

Compound interest (C.I),

= A - P

= 1124.864 - 1000

= 124.864

= 125 (approx)

★ •°• The compound interest on 1000 for 1 whole and ½ years at 8% p.a. compounded half yearly is 125 Rs.

Answer 2

Answer:

• Principal=₹1000
• Rate=8%
• Time=3/2years

if interest in compounded half yearly.

Amount=P[1+r/200]^2n

=1000[1+8/200]³

=1000[26/25]³

=1000×17576/15625=1124.864

So, CI=1124.864-1000=₹124.864

@Indian Army