Question

Find the compound interest on 15000 for 18 months at 12 percent compounded annually

Answer 1

Answer:

2364.375 rs

Step-by-step explanation:

compound interest compounded half yearly formula A=P[1+r/200]^2*n

given 18 months means 18/12 year=3/2 years

A= 15000[1+10/200]^2*3/2

A=15000[1+1/20]^3

A=15000[21/20]^3

A=15000[21*21*21/20*20*20]

after simplification

A=(15*21*21*21)/8

A=17364.375

compound interest=17364.5-15000

=2364.375 Rs

Answer 2

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compound interest compounded half yearly formula A=P[1+r/200]^2×n

given 18 months means 18/12 year=3/2

years

A= 15000[1+10/200]^2×3/2

A=15000[1+1/20]^3

A=15000[21/20]^3

A=15000[21×21×21/20×20×20]

after simplification

A=(15×21×21×21)/8

A-17364.375

compound interest-17364.5-15000

=2364.375 Rs