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Calculate the amount and compound interest on ₹ 62500 for 1whole 𝟏/ 𝟐 years at 8% per annum compounded half yearly.

Calculate the amount and compound interest on 
₹ 62500 for 1whole  𝟏/ 𝟐 years at 8% per annum compounded half yearly. 

Grade:12

1 Answers

Harshit Singh
askIITians Faculty 5964 Points
8 months ago
Dear Student

Principal (P) = ₹ 62,500
Rate = 8% per annum or 4% per half year
Number of years =1 whole 1/2
There will be 3 half years in 1 whole 1/2year
Amount, A =P (1 +R/100 )^n
=₹[62500(1+4/100 )^3]
=₹ [62500 (104/100)^3]100
=₹ [62500 (26/25)^3]
=₹ 70304
C.I. = A − P = ₹ 70304 − ₹ 62500 = ₹ 7,804

Thanks

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