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Question
Find the amount of Rs 4096 for 18 months at
Solution
Given:
P = Rs 4, 096
R = 12 . 5 % p . a .
n = 18 months = 1 . 5 years
We have:
\[\text{ A = P }\left( 1 + \frac{R}{100} \right)^n \]
When the interest is compounded semi - annually, we have:
\[\text{ A = P }\left( 1 + \frac{R}{200} \right)^{2n} \]
\[ =\text{ Rs }4, 096 \left( 1 + \frac{12 . 5}{200} \right)^3 \]
\[ =\text{ Rs }4, 096 \left( 1 . 0625 \right)^3 \]
\[ =\text{ Rs }4, 913\]
Thus, the required amount is Rs 4, 913.
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