Question

2. Calculate the amount and the compound
interest on :

(ii) 8,000 in 5/2 in years at 15% per annum.​

Answer 1

Answer:

15%=3/20

mean amount increase 3 unit per year then amount =23/20

for 6 month interest rate =15%/2=7.5%

7.5%=3/40

23. 20

23. 20

43. 40

----------------------

22747:. 16000

8000×22747/16000=11373.5

Amount=11373.5

CI=11373.5-8000=3373.5ans