Question

Find the compound interest on Rs 62,500 for one year at 8% per annum when compounded half yearly.

Answer 1

Step-by-step explanation:

Principal,P =Rs 62500,

Compound interest Rate,R = 8% compounded half yearly for 1.5 years.

Since it is compounded half yearly, R becomes half = 4%, and time period doubles, n = 3 years.

We know, Amount when interest is compounded annually, A = P(1+\frac{R}{100})^n

Therefore, the required amount = 62500(1+\frac{4}{100})^3 = Rs.70304

And Compound Interest, CI = Amount - Principal = Rs. (70304 - 62500) = Rs. 7804

Answer 2

Step-by-step explanation:

I hope u can understand this solution...

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