Question

2000 rs. is invested in a bank which is compounded half yearly at a rate of 20% per annum.In one and a half year,what will be the final amount?​

Answer 1

Answer:

hope it helps

Step-by-step explanation:

Let P = principal, R = rate of interest and N = time

⇒ Amount = P[1 + (R/2)/100]2n, when compounded half yearly,

Given,

⇒ N = 18months = 18/12 year = 1.5years

⇒ Amount = 2000(1 + 10/100)1.5 × 2

⇒ Amount = 2000(11/10)3

⇒ Amount = Rs. 2662