Question

find the amount and the compound interest on rupees 12000 at 6% p.a. compounded half yearly for 3/2 years ​

Answer 1

A= ₹3,112.72

CI = ₹1,112.72

Explanation:

Here P = ₹ 12000

Since, interest is compounded half yearly.

Therefore, R = 6/2 = 3%

n = 3/2* 2 = 3 half years

`\because A= P\bigg(1+(R)/(100)\bigg)^n`

`\therefore A= 12000* \bigg(1+(3)/(100)\bigg)^3`

`\therefore A= 12000* \bigg((100+3)/(100)\bigg)^3`

`\therefore A= 12000* \bigg((103)/(100)\bigg)^3`

`\therefore A= 12000* \bigg(1.03\bigg)^3`

`\therefore A= 12000* 1.092727`

`\therefore A= 13,112.724`

`\therefore A=Rs. \:13,112.72`

CI = A - P

CI = 13,112.72 - 12000

CI = ₹1,112.72