Question

6250 for 1 year at 16% per annum compounded half-yearly​

Answer 1

Step-by-step explanation:

CI = A-P

A = p(1+r/2/100)^2n

A = 6250(1+16/2/100)^2×1

A= 6250(1+8/100)^2

A = 6250 ( 1+2/25)^2

A= 6250 × 27/25 × 27/25

A = 250 × 27 × 27/25

A = 10 × 27×27

A = 7290

CI = 7290-6250

CI = 1040