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Find the amount and the compound interest on RS 31250 for 1¹/₂ years at 8% per annum, compounded half-yearly.

Posted by Narendra Choudhary 4 years, 11 months ago

CBSE > Class 08 > Mathematics

1 answers

Diksha Laniya 4 years, 11 months ago

Given: Present value= ₹ 31250 Interest rate= 8 % per annum Time=1 ½ year= 3/2 year and compounded half yearly To find the amount we have the formula, Amount (A) = P (1+(R/100)2n Where P is present value, r is rate of interest, n is time in years. Now substituting the values in above formula we get, ∴ A = 31250 (1 + (8/2) /100)3 ⇒ A = 31250 (1+4/100)3 ⇒ A = 31250 (1+1/25)3 ⇒ A = 31250 (26/25)3 ⇒ A = 31250 × 17576/15625 ⇒ A = ₹ 35152 ∴ Compound interest = A – P = 35452 – 31250 = ₹ 3902Read more on Sarthaks.com - https://www.sarthaks.com/737718/find-the-amount-and-the-compound-interest-31250-for-year-per-annum-compounded-half-yearly?show=737720#a737720

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CBSE > Class 08 > Mathematics