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A sum of ₹ 1200 is invested at compound interest (compounded half yearly). If the rate of interest is 10% per annum, then what will be the amount after 18 months? (SSC MTS 2018)
- a)₹ 1389.15
- b)₹ 1185.45
- c)₹ 1563.25
- d)₹ 1295.35
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
A sum of 1200 is invested at compound interest (compounded half yearl...
P = 1200
Time = 18 month for half yearly time becomes twice
= 18 × 2 = 36 month = 3 year
Rate = 10% = 5% = for half yearly
Let the principal = 125
Total amount → 125 + 6.25 + 6.25 + 6.25 + 0.3125 + 0.3125 + 0.3125 + 0.015625
⇒ 144.703125 unit 125 unit → 1200 (given)
Time = 18 month for half yearly time becomes twice
= 18 × 2 = 36 month = 3 year
Rate = 10% = 5% = for half yearly
Let the principal = 125
Total amount → 125 + 6.25 + 6.25 + 6.25 + 0.3125 + 0.3125 + 0.3125 + 0.015625
⇒ 144.703125 unit 125 unit → 1200 (given)
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Community Answer
A sum of 1200 is invested at compound interest (compounded half yearl...
To calculate the amount after 18 months with compound interest, we need to follow these steps:
Given Data:
- Principal (P) = 1200
- Rate of interest (R) = 10% per annum
- Time (T) = 18 months = 1.5 years
- Compounding frequency = Half-yearly
Steps to Calculate Amount:
1. Convert Time to Half-Year Periods:
- Since the interest is compounded half-yearly, we convert 1.5 years into half-year periods:
- T = 1.5 years = 3 half-years
2. Adjust the Rate of Interest:
- The half-yearly rate is:
- R_half = 10% per annum / 2 = 5% per half-year
3. Use the Compound Interest Formula:
- The formula for compound interest is:
- A = P(1 + r/n)^(nt)
- Here, r = R_half = 0.05, n = 1 (compounding once every half-year), and t = 3.
- Substitute the values:
- A = 1200 * (1 + 0.05)^3
4. Calculate the Amount:
- A = 1200 * (1.05)^3
- A = 1200 * 1.157625 (approximately)
- A = 1389.15
Final Amount:
- After 18 months, the total amount will be approximately 1389.15.
Thus, the correct answer is option 'A'.
Given Data:
- Principal (P) = 1200
- Rate of interest (R) = 10% per annum
- Time (T) = 18 months = 1.5 years
- Compounding frequency = Half-yearly
Steps to Calculate Amount:
1. Convert Time to Half-Year Periods:
- Since the interest is compounded half-yearly, we convert 1.5 years into half-year periods:
- T = 1.5 years = 3 half-years
2. Adjust the Rate of Interest:
- The half-yearly rate is:
- R_half = 10% per annum / 2 = 5% per half-year
3. Use the Compound Interest Formula:
- The formula for compound interest is:
- A = P(1 + r/n)^(nt)
- Here, r = R_half = 0.05, n = 1 (compounding once every half-year), and t = 3.
- Substitute the values:
- A = 1200 * (1 + 0.05)^3
4. Calculate the Amount:
- A = 1200 * (1.05)^3
- A = 1200 * 1.157625 (approximately)
- A = 1389.15
Final Amount:
- After 18 months, the total amount will be approximately 1389.15.
Thus, the correct answer is option 'A'.
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A sum of 1200 is invested at compound interest (compounded half yearly). If the rate of interest is 10% per annum, then what will be the amount after 18 months? (SSC MTS 2018)a) 1389.15b) 1185.45c) 1563.25d) 1295.35Correct answer is option 'A'. Can you explain this answer?
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A sum of 1200 is invested at compound interest (compounded half yearly). If the rate of interest is 10% per annum, then what will be the amount after 18 months? (SSC MTS 2018)a) 1389.15b) 1185.45c) 1563.25d) 1295.35Correct answer is option 'A'. Can you explain this answer? for SSC CGL 2024 is part of SSC CGL preparation. The Question and answers have been prepared according to the SSC CGL exam syllabus. Information about A sum of 1200 is invested at compound interest (compounded half yearly). If the rate of interest is 10% per annum, then what will be the amount after 18 months? (SSC MTS 2018)a) 1389.15b) 1185.45c) 1563.25d) 1295.35Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for SSC CGL 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum of 1200 is invested at compound interest (compounded half yearly). If the rate of interest is 10% per annum, then what will be the amount after 18 months? (SSC MTS 2018)a) 1389.15b) 1185.45c) 1563.25d) 1295.35Correct answer is option 'A'. Can you explain this answer?.
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