Question

Calculate the amount and the compound interest on ₹ 24000 for 3/2 years at 10% per annum, compounded half - yearly.​

Answer 1

Answer:

Amount = P[1+r/200]²ⁿ    

If the interest is compounded half yearly.

                     = 24000[1+10/200]³

                     = 24000 x [21/20]³

                       = 27783.

CI = 27783 - 24000 = 3783.