Question

In what time will Rs 64000 amount to Rs 68921 at 5%per annum ,interest being commpounded half yearly

Answer 1

CI =( P×R×1/2)÷100

For first 6 months = (64,000×5×1/2)÷100
= 1,600
A = P+I
A = 64,000 + 1,600
A = 65,600

for second 6 months = 65,600×5×1/2÷100
= 1,640
A = 65,600 + 1640
A = 67,240

for third 6 months = 67,240×5×1÷2÷100
= 1,681
A = 67,240 + 1681
A = 68921

so in 1 and half year the amount will get 68240.

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