Question

4. Find the compound interest on Rs.20000 for 2 years at 20% per annum when compounded half- yearly.

Answer 1

Answer:

29282

Step-by-step explanation:

20000*20/100*1/2 = 2000  ===>> 20000/2000 = 1.1

For 1st six months is 20000*1.1 = 22000

For one year is 22000*1.1 = 24200

For 1.5 year is 24200*1.1 = 26620

For 2 year is 26620*1.1 = 29282