Find the amount of Rs. 4096 for 18 months at 12 ½ % per annum, the in – InterviewSolution

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1.

Find the amount of Rs. 4096 for 18 months at 12 ½ % per annum, the interest being compounded semi-annually.

Answer»

Given details are,

Principal (p) = Rs 4096

Rate (r) = 12 ½ % per annum = 25/4% or 12.5/2%

Time (t) = 18 months = (18/12) × 2 = 3 half years

By using the formula,

A = P (1 + R/100)ⁿ

= 4096 (1 + 12.5/2×100)³

= 4096 (212.5/200)³

= Rs 4913

∴ Amount is Rs 4913

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