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19. Calculate the compound interest at 8% p.a., compounded half-yearly, on Rs 3,000 for 13 years.

Asked by shilmesh2325 | 30th Jan, 2021, 09:35: AM

Expert Answer:

F o r space i n t e r e s t space t o space b e space c o m p o u n d e d space h a l f space y e a r l y
r a t e space o f space i n t e r e s t space equals R over 2
A equals P open square brackets 1 plus fraction numerator R over denominator 2 cross times 100 end fraction close square brackets to the power of T
w h e r e space T equals n u m b e r space o f space c y c l e s space
A equals 3000 open square brackets 1 plus fraction numerator 8 over denominator 2 cross times 100 end fraction close square brackets to the power of 26
A equals 3000 open square brackets 26 over 25 close square brackets to the power of 26

Answered by Utkarsh Lokhande | 18th Mar, 2021, 12:38: AM