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Calculate the Amount and Compound Interest on Rs 62500 for 1 1/2 Years at 8% per Annum Compounded Half Yearly. - CBSE Class 8 - Mathematics

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Question

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

Solution

Principal (P) = Rs 62,500

Rate = 8% per annum or 4% per half year

Number of years =`1 1/2`

There will be 3 half years in `1 1/2` years.

A =  `P(1 + R/100)^n = Rs [62500 (1 + 4/100)^3]`

= Rs `(62500 xx 26/25 xx 26/25 xx 26/25)`

= Rs 70304

C.I. = A − P = Rs 70304 − Rs 62500 = Rs 7,804

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APPEARS IN

 NCERT Solution for Mathematics Textbook for Class 8 (2018 to Current)
Chapter 8: Comparing Quantities
Ex.8.30 | Q: 1.3 | Page no. 133
Solution Calculate the Amount and Compound Interest on Rs 62500 for 1 1/2 Years at 8% per Annum Compounded Half Yearly. Concept: Conept of Compound Interest.
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