Question

Find the compound interest on Rs15625 for 1.5 years at 8% per annum when compounded half yearl

Answer 1

Answer:

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Step-by-step explanation:

Given Principal Amount= P= 15626

Rates of interest Per annum= i =8%

Time= n =1 1/2years ×2 = 3(because compounded half yearly)

Compound Interest = P[ (1+i)^n - 1]

=15625[ (1+8/100)^3 - 1]

=15625[(1 + 0.08)^3 -1]

=15625[ (1.08)^3 - 1]

=15625[1.259712- 1]

=15625[0.259712]

=4058 is the Compound Interest...

Then compounded Amount = Principal Amount + Compound Interest

=15625+ 4058 =19683 is the Compounded amount