Question

Find the compound interest on rs 62500 at 21 per annum for 1 1/2 years

Answer 1

Principal (P) = Rs 62,500 Rate = 21per annum or 10.5 per half year Number of years = 1 1/2 There will be 3 half years in 1 1/2 years. A = p(1 + R/100)n = Rs [62500(1 + 10.5/100)3] = Rs (62500 x221/200×221/200×221/200) = Rs C.I. = A − P = Rs 84327.03− Rs 62500 = Rs 21827.03