Question

Find the compound intrest on 18000 for 1.5years at 10% compound half yearlyFind the compound intrest on 18000 for 1.5years at 10% compound half yearly

Answer 1

Answer:

This is Verified Answer

Step-by-step explanation:

Principal,P =Rs.18000,  Rate,R = 10%   and time period,n = 2.5 years. 

We know, Amount when interest is compounded annually =

Amount after 2 years at 10% , A =  = Rs.21780

This acts as the principal amount for the next half year.

SI on next 1/2 year at = = Rs. 1089

Therefore, Total amount to be paid after 2.5 years = Rs. (21780+1089) = Rs.22869

Now, Compound Interest after 2 years = A - P = Rs.(21780-18000) = Rs. 3780

Therefore, Compound Interest after 2.5 years, CI = Rs. 3780 + SI = Rs.4869