Question

6. Find the compound interest on 16000 at the rate of 10% per annum for 2 years, interest being payable
half-yearly​

Answer 1

Step-by-step explanation:

Simple interest = PTR/ 100

Therefore 16000 × 2 ×10 /100

P = Price

T = Time

R = Rate

So, 16000 × 2 × 10 /100 = 3200

Amount = P + I

Amount = Price + Interest

Therefore 16000 + 3200 = 19200

Amount = ₹19,200