Question

find the compound interest on rupees 1000 at 10% per annum for 18 month which the interest is compounded half yearly​

Answer 1

Answer:

Step-by-step explanation:

Given that,

p = ₹1000

r = 20% = 0.2%

n = 2 times

t = 1.5 year (because 18 month equal to 1 year and half of a year.)

So A = 1000 ( 1 + 0.2/2 )^2 × 1.5

= 1000 ( 2.2/2 )^2 × 3 / 2

= 1000 ( 22 / 20 )^3

= 1000 ×(22 × 22 × 22 ) / ( 20 × 20 × 20 )

= ( 22 × 22 × 22 ) / 8

= 10648 / 8

= 1331

So after 18 years the accumulated amount will be ₹1331.

Hope it helped.