Question

Sushma purchased a house from DDA on credit. if the cost of house is rupees 8,00,000 and the rate of interest is 8% per annum compounded half-yearly . find interest paid by her after one and half year.​

Answer 1

Step-by-step explanation:

Given:-

• Principal = Rs.800000

• Rate = 8%

• Time = 1 ½ years

To Find:-

• The Compound Interest compounded half - yearly .

Solution:-

Principal (P) = Rs.800000

Rate = 8% per annum

Rate for half- yearly (r) = $\dfrac{8}{2} =4\%$

Time (n) = 1.5 years = 3 half years

$\boxed{\sf \bull \: Amount = P \bigg(1 + \frac{r}{100}\bigg)^{n}}$

$\sf \: A = 800000\bigg(1 + \dfrac{4}{100}\bigg)^{3}$

$\sf \: A = 800000\bigg(\dfrac{100 + 4}{100}\bigg)^{3}$

$\sf \: A = 800000\bigg(\dfrac{104}{100}\bigg)^{3}$

$\sf \: A = 800000\bigg(\dfrac{26}{25}\bigg)^{3}$

$\sf \: A = 800000\times \dfrac{26 \times 26 \times 26}{25\times 25\times 25}$

$\sf \: A = 800000\times \dfrac{17576}{15625}$

$\sf \: A = 899891.2$

$\sf \therefore \underline{Amount = Rs.899891.2}$

Compound Interest = Amount - Principal

⇢ CI = 899891.2 - 800000

⇢ CI = 99891.2

$\underline{\boxed{\sf \therefore Compound \: Interest = Rs. 99891.2}}$