Question

1
4. Find the amount and the compound interest
on ? 6000 for 12 years at 10% per annum
compounded half yearly.​

Answer 1

Answer:

Amount = 19,350

C.I = 13,350

Step-by-step explanation:

P=6000, Interest rate=10%, T=12

Since the interest is being compounded half yearly, we shall take half of the Interest rate and twice the number of years.

∴R=5, n=24

Amount = P(1+R/100)^n

= 6000(1+5/100)^24

=6000(1.05^24)

=6000(3.225)

Amount = 19,350

Now SInce Amount = P+C.I.

∴ C.I. = 19350-6000=13350

C.I = 13,350