Question

A man lent rs10000 for 3/2 years at 8% p.a. If he had compounded the interest half yearly, instead of annually, what would he have gained​

Answer 1

Answer:

Principle amount=10,000

Time=1.5 years= 3 half years

Interest rate=10% per year=5% per half year

A=P(1+R100)n

A=10,000(1+0.05)3 A=10,000(1.157) A=11576 Rs

Step-by-step explanation:

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