Calculate the interest on Rs 8000 at 10% per annum compounded half -yearly for 1 ½ years.

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Solution

Dear Student ,

$G i v e n : R a t e (r) = 10 % P r i n c i p l e (p) = R s 8000 Y e a r (n) = 1 \frac{1}{2}, C a l c u l a t e d h a l f y e a r l y s o w e t a k e y e a r s = 3 y r U \sin g F o r m u l a A = P {(1 + \frac{r}{100})}^{n} A = 8000 {(1 + \frac{10}{100})}^{3} = 8000 {(\frac{11}{10})}^{3} = 8000 (\frac{11}{10} \times \frac{11}{10} \times \frac{11}{10}) = 8 \times 1331 = 10648 N o w, C I = A - P = 10, 648 - 8000 = R s 2648$

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