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Find the amount which Ram will get on Rs 4,096, he gave it for 18 months at 12 1/2% per annum, interest being compounded half yearly.

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Find the amount which Ram will get on Rs 4,096, he gave it for 18 months at 12 1/2% per annum, interest being compounded half yearly.

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Best answer

P = Rs 4096

R = 12 1/2% per annum = 25/4% per half year

n = 18 mobths

There will be 3 half years in 18 months.

Therefore,

Thus, the required amount is Rs 4,913.

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