find the compound interest on rupees 1000 at the rate of 20% per annum for 18 months when interest is compounded half yearly?
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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.
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.
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