Find the amount which Ram will get on ₹ 4096 if he gave it for 18 months at \(12{\Large\frac{1}{2}}\) % per annum, interest being compounded half yearly

Solution:

A = P[1 + (r/100)]ⁿ

P = ₹ 4096

n = 18 months = \(1{\Large\frac{1}{2}}\)years

R = \(12{\Large\frac{1}{2}}\) % p.a. compounded half-yearly

For calculation of Compound Interest (C.I.) compounded half-yearly, we will take the interest rate as half of \(12{\Large\frac{1}{2}}\)% i.e, (25/2) ÷ 2 = 25/4 %

and ‘n’ = 3 (Since, 18 ÷ 6 = 3)

A = P[1 + (r/100)]ⁿ

A = 4096[1 + (25/(100 × 4))]³

A = 4096[1 + (25/400)]³

A = 4096 × (425/400)³

A = 4096 × (17/16)³

A = 4096 × (17/16) × (17/16) × (17/16)

A = 4096 × (4193/4096)

A = ₹ 4913

☛ Check: NCERT Solutions for Class 8 Maths Chapter 8

Video Solution:

Find the amount which Ram will get on ₹ 4096 if he gave it for 18 months at 12(1/2)% per annum, interest being compounded half yearly

NCERT Solutions Class 8 Maths Chapter 8 Exercise 8.3 Question 9

Summary:

The amount which Ram will get on ₹ 4096 if he gave it for 18 months at \(12{\Large\frac{1}{2}}\)% per annum, interest being compounded half yearly is ₹ 4913.

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