Calculate the compound interest and amont Rs.16000 for 1 whole 1/2 years at the rate of 10% compound interest per annum compounded at the interval of 6 months.
Answers
Answered by
0
Answer:
plzzzz ask the question carefully
Answered by
0
Answer:2522
Step-by-step explanation:It is calculated as under -
Interest rate per annum - 10%
No of rests per annum - 1 for annual, 2 for half year, 4 for Quarterly and 12 for monthly
Effective interest per rest - Per annum Interest rate divide by no of rest per annum - 10/2 = 5%
Rest Period in known time - 1–1/2 years / 6 months = 3
Interest = Principal x (1+Effective interest rate) raised to power 3 - Principal Amount
Or
16000 x 1.05 x 1,05 x 1,05 - 16000 = 2522/-
Similar questions