Question

Find the compound interest on ₹ 31,250 at 12% per annum for 2+1/2 years compounded half yearly.​

Answer 1

Answer:

∴ Compound interest =A–P

=35452–31250=₹ 3902

Step-by-step explanation:

Given:

Present value =₹ 31250

Interest rate =8% per annum

Time =1

2

1

year =3/2 year and compounded half-yearly

To find the amount we have the formula,

Amount (A)=P(1+(r/100))

n

where P is present value, r is rate of interest, n is time in years.

Now substituting the values in above formula we get,

∴A=31250(1+(8/2)/100)

3

⇒A=31250(1+4/100)

3

⇒A=31250(1+1/25)

3

⇒A=31250(26/25)

3

⇒A=31250×17576/15625

⇒A=₹ 35152