Question

find the compound interest on ₹15000 at 8%p.a for one and half year, the payable interest is half yearly

Answer 1

sums like this solve

Answer 2

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Here is your answer.

P = Rs 15000
R = 8% p.a
= 8/2% = 4% for Compounded half yearly
T = 1 1/2 years
n =3 for Compounded half yearly
Now
As we know the formula
A = P(1+R/100)^n
$= 15000 \times (1 + \frac{4}{100} ) {}^{3} \\ \\ = 15000 \times (1 + \frac{1}{25} ) {}^{3} \\ \\ = 15000 \times ( \frac{25 + 1}{25} ) {}^{3} \\ \\ = 15000 \times ( \frac{26}{25} ) {}^{3} \\ \\ = \frac{15000 \times 26 \times 26 \times 26}{25 \times 25 \times 25} \\ \\ = 16872.96$
So Amount is Rs 16,872.96

CI = A - P
= 16,872.96 - 15,000
= 1,872.96

Therefore Compound interest is Rs 1,872.96

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