2. Find the amount and the compound interest on 10000 for 3 years at 12% per annum, compounded half-yearly.
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Solution
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Compounded half yearly:
A=P(1+
200
r
)
2n
×(1+
100
br
)
=10000(1+
200
10
)
(2)
×
⎝
⎜
⎜
⎛
1+
100
2
1
×10
⎠
⎟
⎟
⎞
=10000(1.1025)(1.05)
=11576.25
Amount =Rs.11,576.25
CI=A−P=Rs.1576.25
Step-by-step explanation:
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