Question

calculate compound interest on rupees 1600 for one and half years at 8% per annum when the interest is compounded half yearly​

Answer 1

Step-by-step explanation:

Principal= ₹1600

Rate= 8%

For one year:

Amount = principal( 1+R/100)

1600 ( 1+8/100)

1600 (108/100)

108 x 16

1728.

Rate for half year:

Principal= ₹1600

Rate= 4%

Time= 2 years

Amount = 1600(1+4/100) raised to the power of 2

1600 x 104/100 x 104/100

1730.56