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The amount and the compound Interest on ...

The amount and the compound Interest on Rs. 24000 compounded semi-annually for `1 (1)/(2)`yr at the rate of 10% per annum are

A

Rs. 27000, Rs. 3774

B

Rs. 27783, Rs. 3583

C

Rs. 27000, Rs. 3780

D

Rs. 27783, Rs. 3783

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The correct Answer is:
To solve the problem of finding the amount and compound interest on Rs. 24000 compounded semi-annually for 1.5 years at a rate of 10% per annum, we can follow these steps: ### Step-by-Step Solution: 1. **Identify the Given Values:** - Principal (P) = Rs. 24000 - Rate (R) = 10% per annum - Time (T) = 1.5 years 2. **Adjust the Time and Rate for Semi-Annual Compounding:** - Since the interest is compounded semi-annually, we need to adjust the time and rate: - The time in semi-annual periods = 1.5 years × 2 = 3 periods - The rate per period = 10% / 2 = 5% per period 3. **Use the Compound Interest Formula:** - The formula for the amount (A) when compounded is: \[ A = P \left(1 + \frac{R}{100}\right)^n \] - Where: - \( P \) = Principal - \( R \) = Rate per period - \( n \) = Number of compounding periods 4. **Substitute the Values into the Formula:** - Here, \( P = 24000 \), \( R = 5\% \), and \( n = 3 \): \[ A = 24000 \left(1 + \frac{5}{100}\right)^3 \] - Simplifying this gives: \[ A = 24000 \left(1 + 0.05\right)^3 = 24000 \left(1.05\right)^3 \] 5. **Calculate \( (1.05)^3 \):** - \( (1.05)^3 = 1.157625 \) 6. **Calculate the Amount (A):** - Now substitute back to find A: \[ A = 24000 \times 1.157625 \approx 27783 \] 7. **Calculate the Compound Interest (CI):** - The formula for compound interest is: \[ CI = A - P \] - Substituting the values gives: \[ CI = 27783 - 24000 = 3783 \] ### Final Results: - **Amount (A)** = Rs. 27783 - **Compound Interest (CI)** = Rs. 3783
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