Question

2. Find the compound interest on 60,000 at the rate of 10% per annum for 1whole1/2 years wheninterest is compounded half yearly
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Answer 1

Answer:

use the formula

$a \: = p {(1 + \frac{r}{200} )}^{2t} \\ a = 60000 {(1 + \frac{10}{200}) }^{2 \times \frac{3}{2} } \\ = 60000 {( \frac{21}{20} )}^{3} \\ = 60000 \times \frac{21}{20} \times \frac{21}{20} \times \frac{21}{20 } \\ = 69457.50$

Compound Interest = Amount - Principal

= 69457.5 - 60000

= ₹ 9467.50