Question

Find the C.I on Rs. $5000$ at $10$% per annum compounded semi-annually for $\frac{11}{2}$ year.

Answer 1

Principal$P==5000Rs$

Compond Rate per annum$=10\%$

Compound Rate half yearly$=\frac{10}{2}=5\%=r$

$Time=5.5yrs=5.5\times 2=11=n$ half years

$A=P\times (1+\frac{r}{100}{)}^n$

$A=5000\times (1+\frac{5}{100}{)}^{11}$

$A=5000\times (1+(0.05){)}^{11}$

$A=5000\times (1.05{)}^{11}$

$A=5\times 1.71$

$A=8550Rs$

$CI=A-P=8550-5000=3550Rs$

Hence the answer is $3550Rs$