Question

Find the compound interest on ₹ 3000 for 1 and half year at 10% per annum compounded half Yearly.

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Answer 1

Answer:

p = rs 3000 ; t = 1.5 years = 3 half years ; r = 10%

a = 3000[1+10/100]^3

a = 3000 * 11/10 * 11/10 * 11/10

a = 3 * 11 * 11 * 11

a = 3,993

Step-by-step explanation:

Here is your answer........

Answer 2

Compound interest I = 472.875 Rs

Given: Principal amount P = 3000 Rs

Given time period T = 1 and half year = $1 \frac{1}{2}$ year

Rate of interest R = 10% per annum

To find: Compound interest on 3000 for $1 \frac{1}{2}$ years

Solution:

Here interest is compounded half yearly    

⇒ Rate of interest is 5% per half yearly    

⇒ Number of half years in  $1 \frac{1}{2}$ year  (n) = 3  

∴ Amount (A) = P(1+R/100)ⁿ  

= 3000(1 + 5/100)³

= 3000(1 + 1/20)³  

= 3000 ($\frac{20+1}{20}$)³

= $3000(\frac{21}{20} )(\frac{21}{20})(\frac{21}{20} )$

=  $3(\frac{21}{2} )(\frac{21}{2})(\frac{21}{2} )$

= 3(10.5)(10.5)(10.5) = 3(1157.625) = 3472.875 Rs.  

Compound interest I = Amount - Principal amount

=  3472.875 - 3000 = 472.875 Rs.

Therefore, Compound interest I = 472.875 Rs.

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