Question

Find the compound interest on rs 1000 at the rate of 10% per annum for 18 months when interest is compounded half yearly

Answer 1

Answer:

₹ 157.625

Step-by-step explanation:

P = 1000

R per annum = 10%

R per half year = 10/2 = 5%

T = 18 months = 1 and half year = 3 half years

n = 3

CI = P {(1 + R/100)^n - 1}

CI = 1000 {(1 + 5/100)^3 - 1}

= 1000 {(21/20)^3 - 1}

= 1000 {9261/8000 - 1}

= 1000 × 1261 / 8000

= 157.625

CI = ₹ 157.625

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Answer 2

Answer:

57.625

Step-by-step explanation: