calulate the amount and compound interest on ₹20,000 for 2 years and 6 nmonths at 10% per annum compounded annually .
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Answer:
Principal (P) = ₹ 20,000.
Time (t) = 1. ½ Years = 3/2 years.
Rate (r) = 10%
Amount = P × (1 + (r/2 × 100)) n × 2
= ₹ 20,000 × (1 + (10/200) 3/2 × 2
= ₹ 20,000 × (210/200)3
= ₹ 20,000 × 21/20 × 21/20 × 21/20.
= ₹ 23,152.50.
Hope it helps.
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