Question

calculate the amount and compound interest on rs 16000 for 1 year at 15%per annum compounded half yearly

Answer 1

Interest rate is 15% per annum so 7.5% for half year
We get two times interest in one year so total interest is
7.5+ 7.5 + (7.5*7.5)/100 = 15.5625
So
16000* 15.5625/100= 2490rs ans

Answer 2

amount = 18400

compound interest = 2400

I =P*R*T/100

I= 16000*15*1/100

I= 2400

AMOUNT AT THE END OF YEAR = 16000+2400

= 18400