Question

Calculate the compound interest on ₹ 16,000 at the rate of 10%per annum compounded half yearly for 1½years.

Answer 1

rate of interest will be a+b+ab/100
=5+5+5×5/100
=10.25. f
again 10.25+ 5+5×10.25/100
=15.3525
here we take rate 5 as half yearly
com. interest= 16000×15.3525×3/200
=1228.2

Answer 2

P=rs. 16000
R= 10%
= 5% half yearly
T=1 1/2 years
= 3 yrs. half yearly
Amount= P (1+ R/100)^n
= 16000 (1+ 5/100)^3
= 16000 (1+ 1/20)^3
= 16000 (21/20)^3
= 16000 * 21/20 * 21/20 * 21/20
=2*9261
=Rs.18522
Compound interest=amount-principal
=18522-16000
= Rs.2522