Question

Find the compound interest on rs 1,000 for 18 months at 10 persent compounded half - yearly

Answer 1

9261 is a correct answer

Answer 2

To find compound interest , we can find simple interest and then add it to our principle and then find simple  interest  for the new amount 
for 6 months we get ,interest =1000×1/÷10=100
new principle=100+1000=1100
interest after 1 year=1100×1÷10=110
principle after a year=1100+110=1210

interest after 18 months=1210×1÷10=121

amount after 18 months=Rs.121+1210=Rs.1331.

                                                 THAT'S IT!