Question

1. Find the amount of Rs. 1000 in one year at 4% per annum, when the interest is compounded half-yearly.

1) Rs. 1400,40
2) Rs. 1040,40
3) Rs. 1004.50​

Answer 1

Answer:

1040.40

Step-by-step explanation:

1000(1+2%)²

1000(50/50+1/50)²

1000(51/50)²

1000×51/50×51/50

1040.40