Question

Calculate the compound interest on 6000 at 4% per annum for 1 year compounded half-yearly.​

Answer 1

Answer:

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Answer 2

Answer:

Formula:

$amount = p (1 + \frac{r}{200} )^{2n}$

This formula is used for half yearly compounded to calculate.

Then subtract p from amount to get compound interest.

Amount= 6000×51/50×51/50

Amount= 6242.4

Compound Interest = 6242.4-6000= 242.4 rupees.

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