Browse by Stream
QnA
Home
QnA
Go To Your Study Dashboard

Get Answers to all your Questions

header-bg qa
  • Home
  • NCERT
  • Calculate the amount and compound interest on Rs 62,500 for 1.5 years at 8 percent per annum compounded half yearly.

Q : 1       Calculate the amount and compound interest on

             (c)   Rs 62,500 for   1\frac{1}{2}   years at 8% per annum compounded half yearly.
 

Answers (1)

best_answer

Given,

Principal,P =Rs 62500, 

Compound interest Rate,R = 8% compounded half yearly for 1.5 years.

Since it is compounded half yearly, R becomes half = 4%, and time period doubles, n = 3 years.

We know, Amount when interest is compounded annually, A = P(1+\frac{R}{100})^n

Therefore, the required amount = 62500(1+\frac{4}{100})^3  = Rs.70304

And Compound Interest, CI = Amount - Principal = Rs. (70304 - 62500) = Rs. 7804

Posted by

HARSH KANKARIA

View full answer

Similar Questions

Trending Articles/News

anam-khan

JNVST 2024: NVS Class 6, 9 results out; documents required for admission
anam-khan

JNVST Class 6, 9 result 2024 likely tomorrow at navodaya.gov.in; cut-off marks, total seats
anam-khan

Navodaya Class 9 results 2024 likely by end of March; expected cut-offs

Latest Question