Calculate the compound interest on Rs.16000 for one and half years at the rate of 10% p.a.
compounded semi annually.

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Solution

Dear Student,

$P r i n c i p a l, P = R s . 16000 R a t e o f i n t e r e s t, r = 10 % p . a . T i m e, n = 1 \frac{1}{2} y e a r s = \frac{3}{2} y e a r s S i n c e, i n t e r e s t i s c o m p o u n d e d s e m i - a n n u a l l y, A m o u n t, A = P {(1 + \frac{r}{200})}^{2 n} A = 16000 {(1 + \frac{10}{200})}^{2 \times \frac{3}{2}} A = 16000 {(1 + \frac{1}{20})}^{3} A = 16000 {(\frac{20 + 1}{20})}^{3} A = 16000 {(\frac{21}{20})}^{3} A = 16000 \times \frac{21}{20} \times \frac{21}{20} \times \frac{21}{20} A = R s . 18522 C o m p o u n d I n t e r e s t = A - P = 18522 - 16000 = R s . 2522$

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f o r a p e r i o d

y e a r, c o m p o u n d e d s e m i - a n n u a l l y a t t h e r a t e

1 \frac{1}{2}

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