Question

calculate amount and compound interest on 10800 for 1 year at 10% annum compounded half yearly

Answer 1

Answer:

$a = p(1 + \frac{1}{100} ) ^{t}$

$a = 10800(1 + \frac{10}{100} ) ^{1}$

$a = 10800 \times \frac{110}{100}$

$a = 11880$

$now \: ci \: = a - p$

$ci \: = 11880 - 10800 \\ = 1080 \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \:$

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