Question

calculate the amount and the compound interest on: 12000 for 2 years at 5% per annum compounded annually Amount = 13230, CI = 1230​

Answer 1

Answer:

To find compound interest when interest is compounded half-yearly we use formula

A=P(1+

2

r

)

2n

Here, P=Rs.12000,r=10% and n=1.5 years

Hence,A=12000(1+0.05)

3

A=12000×1.157625

A=Rs.13891.5