# Mohd. Aslam purch

Initial value, P = Rs.125000

Interest rate, R = 12% per annum

Time, n = (1 + 1/2) years = 3/2 years

Compounded half-yearly.

Amount (A) = P [1 + (R/2)/100]2n [Where, P = Present value

R = Annual interest rate

n = Time in years]

A = 125000 [1 + (12/2)/100]3 [n = 3/2 years]

A = 125000 [1 + 6/100]3

A = 125000 [1 + 3/50]3

A = 125000 [53/50]3

A = 125000 × 53/50 × 53/50 × 53/50

A = 125000 × 148877/125000

A = 1 × 148877

A = 148877

Amount = Rs.148877

Compound interest = Rs.(148877 – 125000) [CI = A – P]

= Rs.23877

Rs.23877 interest paid by Aslam after (3/2) years.

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