Calculate the amount and the compound interest on:
Rs.8000 for 1and a half years at 10% per annum compound yearly .

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Solution

P= Rs. 8000; r = 10% p.a; $t = 1 \frac{1}{2} y e a r s A = P (1 + \frac{r}{100})^{t} F o r 1 y e a r A = 8000 (1 + \frac{10}{100})^{1} A = 8000 (\frac{110}{100}) = R s . 8800 I = A - P = R s . 8800 - 8000 = R s . 800 F o r n e x t h a l f y e a r, S . I = \frac{P \times r \times t}{100} = \frac{8800 \times 10 \times 1}{2 \times 100} = 440 T o t a l i n t e r e s t = R s . (800 + 440) = R s . 1240 A = R s . 8800 + R s . 440 = R s 9240$

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