Question

calculate the amount and compound intrest on ₹9600 for3/2years at 8%p.a compounded half yearly​

Answer 1

Answer:

Step-by-step explanation:

amount=P(1 + R/100)^N

R=rate

N=number of years

P=principal amount

this is general formula for amount,

but if compounded half yearly then

R= r/2 AND N=n*2

so here formula is

Amount=P(1 + R/200)^2N

now put values of P= 9600, R=8 and N=3/2

so amount= 9600(1 + 8/200)^2*3/2

so amount =10798.69

and C.I = amount-principal

so C.I = 10798.69 - 9600

C.I = 1198.69