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Find the amount which Ram will get on ₹ 4,096, he gave it for 18 months at 1𝟐 whole 𝟏/𝟐 per annum, interest being compounded half yearly.

Find the amount which Ram will get on ₹ 4,096, he gave it for 18 months at 1𝟐 whole 𝟏/𝟐 per annum, interest being compounded half yearly. 

Grade:12

1 Answers

Harshit Singh
askIITians Faculty 5964 Points
one year ago
Dear Student

P =₹4,096
R = 12 whole ½ per annum =25/2 per annum=25/4 per half year
n = 18 months
There will be 3 half years in 18 months. Therefore,
Amount, A =P (1 +R/100 )^n
= ₹ [4096(1+25/4 x 100 )^3]
= ₹ [4096×(1+1/16)^3]
= ₹ 4096×(17/16)^3
= ₹ 4913
∴ The required amount is₹4,913.

​Thanks

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