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Question
Find the amount that David would receive if he invests Rs 8192 for 18 months at \[12\frac{1}{2} \%\] per annum, the interest being compounded half-yearly.
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Solution
Given:
P = Rs 8, 192
R = 12 . 5 % p . a .
n = 1 . 5 years
When the interest is compounded half - yearly, we have:
\[A = P \left( 1 + \frac{R}{200} \right)^{2n} \]
= Rs \[8, 192 \left( 1 + \frac{12 . 5}{200} \right)^3 \]
= Rs \[ 8, 192 \left( 1 . 0625 \right)^3 \]
= Rs 9, 826
Thus, the required amount is Rs 9, 826.
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