Problem Statement
Find the compound interest on ₹4,000 at 10% per annum compounded half-yearly for 18 months.
Explanation
Eighteen months is three half-years. Half-yearly rate five percent. Amount equals four thousand times one point zero five cubed equals four thousand six hundred thirty point five. Interest is six hundred thirty point five.
Code Solution
SolutionRead Only
A = 4000×(1.05)^3 = 4630.5 ⇒ CI = 4630.5−4000 = 630.5
