find the sum for one and half year compounded half yearly at the rate of 8%per annum that will amount to rupees ..17576 (without using formula)
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Answer:
⇒P=Rs. 15625
Step-by-step explanation:
Given:-
Time period, t=1
2
1
years =
2
3
years.
Rate of interest, r=8%
Amount, A=Rs. 17576
As the interest is compounded half yearly interest will become half and time period will becomes double in this case so,
A=P(1+
100
r
)
t
⇒17576=P(1+
100
4
)
3
⇒17576=P(1+0.04)
3
⇒17576=P(1.04)
3
⇒P=
(1.04)
3
17576
⇒P=Rs. 15625
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