Find the compound interest on ₹1000 @10% p.a per 18 months when interest is compounded half yearly
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dear frnd,
Here, P = $1,000, R = 10% and n = 18 months = 18/12 = 3/2 years.
Amount after 2 years = P ( 1 + r/2) 2n
= 1,000 ( 1 + 0.10 /2) 2 x 3/2
= 1,000 ( 1 + 0.05) 6/2
= 1,000 (1.05) 3
= 1,000 x 1.157625
Amount = $ 1157.625
∴ C.I = A - P
C.I = 1157.625 - 1000
C.I = $ 157.625
hope it helps u,
regards..
Here, P = $1,000, R = 10% and n = 18 months = 18/12 = 3/2 years.
Amount after 2 years = P ( 1 + r/2) 2n
= 1,000 ( 1 + 0.10 /2) 2 x 3/2
= 1,000 ( 1 + 0.05) 6/2
= 1,000 (1.05) 3
= 1,000 x 1.157625
Amount = $ 1157.625
∴ C.I = A - P
C.I = 1157.625 - 1000
C.I = $ 157.625
hope it helps u,
regards..
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