Question

@ 10% pot annum find compound interust on Rs 16,000 For 12 years compound half yearly​

Answer 1

Answer:

5,441.53

Step-by-step explanation:

Principal= 16,000

Rate = 10%

Time = 12 years

Interest on compounded half yearly

we have, Rate = 5%

              Time = 12/2= 6 years

n= Time

r= rate

P= principal

A = P[ 1 + r/100]ⁿ

A= 16,000 [ 1+ 5/100]⁶

A= 16,000 [ 1 + 1/20]⁶

A= 16,000 [ 21/20]⁶

A= 16,000 × 21/20×21/20×21/20×21/20×21/20×21/20

A= 21,441.53

Compound Interest= A - P

CI = 21,441.53 -  16,000

CI = 5,441.53