Question

compute the compound interest on rupees 5000 for 3/2 year at 16% per annum compounded half yearly​

Answer 1

Step-by-step explanation:

$compound \: interest \: = p{(1 + \frac{r}{100 \times m} ) }^{t \times m} - p$

$= 5000 {(1 + \frac{16}{100 \times 2} )}^{ \frac{3}{2} \times 2 } - 5000$

$= 5000 {(1.08)}^{3} - 5000$

=5000×1.26 - 5000

=5000×1.26 - 5000=6298.56 - 5000

=5000×1.26 - 5000=6298.56 - 5000=₹1298.56 answer

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