# Rs.62,500 for 1.5 years at 8% per annum compounded half yearly

2
by esthergeetha70

2014-10-26T23:00:47+05:30

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P = Rs. 62,500
r = 8%
t = 1.5yrs
n = 2

After 1.5 years, total amount will be Rs. 70304
2014-10-27T08:59:48+05:30

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Sum = P ( 1 + r / 100 )^n

P = principal amount = Rs 62,000
n = number of times, interest is compounded  =  3 times in 1.5 years
r = interest per the duration between compounding intervals =
= interest for 6 months = 4

S = Rs 62,500 ( 1 + 4/ 100)^3 = Rs 70, 304