Question

What the compound interest on ₹ 8000 for 1 1/2 years at 10% p.a., if interest being compounded half yearly

Answer 1

Heya user
Here is your answer !!

Principal = Rs 8000
Time = 1 1/2 yrs
n = 3
Rate = 10% p.a. = 5% half yearly

So , Amount = P ( 1 + R/100 )^n
= 8000 × ( 105 / 100 )^3
= ( 8 × 105 × 105 × 105 ) / 1000
= 9261 .

So , Compound Interest = Rs 9261 - Rs 8000 = Rs 1261 (Ans)

Hope it helps !!

Answer 2

Heya ☺

Given that

P = ₹8,000

R = 10 % p.a.

T = 1 1/2 year = 3/2 years

Solution

When the interest is compounded half - yearly

A = P(1+R/200)^2n

= 8,000(1+10/200)^2 × 3/2

= 8,000(200+10/200)^3

= 8,000(210/200)^3

= 8,000(21/20)^3

= 8,000 × 9,261/8,000

= ₹9,261

C.I. = A - P

= ₹(9,261 - 8,000)

= ₹1,261




Thanks