Question

The compound interest on ₹15625 for 1 1 2 years at 8% per annum compounded half yearly is
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Answer 1

Answer: cp. = p(1+r/100)n =15625(1+8/100)1 =15625(108/100)1 =15625×28/25= answer is 17500.

Answer 2

Given :-

• Principal = P = Rs.15625
• Time = T = 1(1/2) year = (3/2) years.
• Rate = R = 8% compounded half yearly.

To Find :-

• Compound interest = CI = ?

Solution :-

we know that, when rate is compounded half yearly,

• Rate = Half of given rate .
• Time = Double .

so,

• P = Rs.15625
• T = (3/2) * 2 = 3 years.
• R = 8/2 = 4% compounded yearly .

now, we know that,

• CI = P[{1 + (R/100)}^T - 1]

putting all values we get,

→ CI = 15625[{1 + (4/100)}³ - 1]

→ CI = 15625[{1 + (1/25)}³ - 1]

→ CI = 15625[(26/25)³ - 1]

→ CI = 15625[(17576/15625) - 1]

→ CI = 15625 * {(17576 - 15625)/15625}

→ CI = (15625 * 1951)/15625

→ CI = Rs.1951 (Ans.)

Learn more :-

CI in 2yr is Rs. 1600 and in 3 yrs it will be Rs. 1700. Find the rate of interest.

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