Question

compute compound interest on rs. 12000 for 2 years at 20 percent per annul when compounded half yearly

Answer 1

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Answer 2

We know that A = P(1+r/2)^2n

                             = 12000(1+0.20/2)^4

                            = 12000(1.1)^4

                            = 17569.2

We know that CI = A - P

                            = 17569.2 - 12000

                           = 5569.2