A person borrowed Rs. 8000 on compound interest at the rate of 20 percent per aanum. If the interest is compounded half yearly, then what will be the amount to be paid after 1.5 years?

Rs.10648

If interest is compounded half yearly . Then ,

Rate =  \(\frac{20 }{2}\)% = 10%

And n = 3 ( for 1.5 year )

Amount = Principal × ( 1 + \(\frac{rate }{100}\) )^t

= 8000 × ( 1 + \(\frac{10 }{100}\) )³

= 8000 × \(\frac{11}{10}\)× \(\frac{11}{10}\)× \(\frac{11}{10}\)

= Rs. 10648