Question

p = 16000 t= 3/2 r= 10% half yearly find amount and CI ​

Answer 1

Sᴏʟᴜᴛɪᴏɴ :-

→ Principal = P = Rs.16000

→ Time = T = (3/2) Years = (3/2) * 2 = 3 Years. (As Rate is compounded half yearly.)

→ Rate = R = 10% = (10/2) = 5%

→ Amount = P[ 1 + (R/100)]^T

Putting All values we get,

→ A = 16000[1 + (5/100)]³

→ A = 16000 * [ 1 + (1/20)]³

→ A = 16000 * (21/20)³

→ A = 16000 * (9261/8000)

→ A = 2 * 9261

→ A = Rs.18,522

Therefore,

→ CI = Amount - Principal

→ CI = 18522 - 16000

→ CI = Rs.2,522

Hence, Amount Received is Rs.18,522 and CI Received is Rs.2,522.