Compute the amount for ₹65536 invested for 1 and half years at 12 and half p.a.,the interest being compounded semi-annually .
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The amount will be ₹73608.
Explanation:
The formula to calculate the compound amount that is compounded semi-annually :
, where P = principal , r= rate of interest ( in decimal) and t is time.
As per given , we have
P= ₹65536
t= years
r =
Substitute all values in the formula , we get
Hence, the amount will be ₹73608.
# Learn more :
Calculate the amount if Rs 12000 is invested at 12% p.a compounded annually for 2 years. Also find the compound interest.
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