a sum of 93,750 is deposited in a bank at 8 % of rate of interest p.a. compounded half yearly for 1.5 years . what will be the interest earned in a year ??
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Answer:
The answer is 135000 .
Step-by-step explanation:
By the formula P×T×R\100
Answer:
₹3902
Step-by-step explanation:
When compounded half-yearly, the rate is halved and the time is doubled.
Principal (P) = ₹93,750
Rate (R) = (8÷2) % = 4%
Time (n) = (1.5 × 2) years = 3 years
Amount (A) = P (1 + R/100)ⁿ
=> A = 93,750 (1 + 4/100)³
=> A = 93,750 (26/25)³
=> A = ₹1,05,456
Compound Interest = A-P = ₹1,05,456 - ₹93,750 = ₹11,706
Interest earned in 1 year = ₹11706 ÷ 3 = ₹3902