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in Compound Interest by (56.3k points)

 What sum will amount to Rs. 4913 in 18 months, if the rate of interest is 12 ½ % per annum, compounded half-yearly?

1 Answer

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by (30.5k points)
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Best answer

Given details are,

Rate = 12 ½% per annum = 25/2% = 25/2/2 = 25/4% half yearly

Amount = Rs 4913

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

By using the formula,

A = P (1 + R/100) n

4913 = P (1 + 25/4 ×100)3

P = 4913 / (1 + 25/400)3

= 4913/1.19946

= 4096

∴ The principal amount is Rs 4096.

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