Find the amount and the compound interest on Rs. 8000 for 112 years at 10% per annum, compounded half-yearly.

Isis Everett

Isis Everett

Answered question

2023-03-17

Find the amount and the compound interest on Rs. 8000 for 112 years at 10% per annum, compounded half-yearly.

Answer & Explanation

Campbell Davenport

Campbell Davenport

Beginner2023-03-18Added 5 answers

Rate (R) =10%p.a or 5% half yearly.
Period (n) = 1 1/2 years or 3 half years
Amount (A) = P(1+R/100)^n = Rs.8000(1+5/100)^3 = Rs.8000(21/20)^3 = Rs.8000*21/20*21/20*21/20 = Rs.9261
C.I. = A - P
= Rs. 9261 - Rs. 8000 = Rs. 1261

Do you have a similar question?

Recalculate according to your conditions!

Ask your question.
Get an expert answer.

Let our experts help you. Answer in as fast as 15 minutes.

Didn't find what you were looking for?