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Question
Find the amount and the C.I. on ₹ 8,000 in `1 1/2` years at 20% per year compounded half-yearly.
Solution
Principal (P) = ₹8000
Rate = 20%
Time =`1 1/2` years =`3/2` years
Amount = `"Principal"xx(1+"r"/(2xx100))^("n"xx2)`
`=₹8000xx(1+20/200)^(3/2xx2)`
`=₹8000xx(220/200)^3`
`=₹8000xx11/10xx11/10xx11/10`
= ₹10648
C.I. = Amount − Principal
= ₹10648 − ₹8000
= ₹2648
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