Question

what will be the interest on the sum of rupees 48000 invested for 1.5 years at 10% rate of interest p. a compounded half yearly​

Answer 1

Answer:

A = 55,377.11

A = P + I where

P (principal) = $48,000.00

I (interest) = 7,377.11

Calculation Steps:

First, convert R as a percent to r as a decimal

r = R/100

r = 10/100

r = 0.1 rate per year,

Then solve the equation for A

A = P(1 + r/n) ^nt

A = 48,000.00(1 + 0.1/1) ^1×1.5

A = 48,000.00(1 + 0.1) ^1.5

A = 55,377.11

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