2. Find the compound interest for the given principal, rate and time when compounded half-yearly.
P = 20,000, R = 10% pa, T = 2 years
Answers
Answered by
2
Amount , when compounded half-yearly =
P(1+R/200)²n
=> A = 20000 ( 1 + 10/200 )²×²
=> A = 20000 × 21/20 × 21/20 × 21/20 × 21/20
=> A = 194481 ÷ 8
=> A = 24310.125
=> CI = A - P
=> CI = 24310.125 - 20000
=> CI = ₹4,310.125
Similar questions