Question

a bank offers 5% compound interest compounded half yearly. if you deposit rs 1600 on 1st January and 1st July of a year, calculate the amount ​

Answer 1

Answer:

Amount

= Rs. 1600 x 1 + 5 2 + 1600 x 1 + 5

2 x 100 2 x 100

= Rs. 1600 x 41 x 41 + 1600 x 41

40 40 40

= Rs. 1600 x 41 41 + 1

40 40

= Rs. 1600 x 41 x 81

40 x 40

= Rs. 3321.

C.I. = Rs. (3321 - 3200) = Rs. 121

Step-by-step explanation:

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