What is the amount and compound interest on Rs 10,800 for 1½yrs at 12½% p.a compounded half yearly
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3
Answer:
Here, Principal (P) = Rs. 10800, Time (n) = 3 years Rate of interest (R) = 12\ \frac{1}{2}\%=\frac{25}{2\%}12
2
1
%=
2%
25
Amount(A) = P\left(1+\frac{R}{100}\right)^nP(1+
100
R
)
n
= 10800\left(1+\frac{1}{8}\right)^3=10800\left(\frac{9}{8}\right)^3(1+
8
1
)
3
=10800(
8
9
)
3
= 10800\times\frac{9}{8}\times\frac{9}{8}\times\frac{9}{8}10800×
8
9
×
8
9
×
8
9
= Rs. 15,377.34
Compound Interest (C.I.) = A – P
= Rs. 10800 – Rs. 15377.34 = Rs. 4,577.34
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