Question

Find compound interest on rupees 16000 at 10% per annum for 2 years compounded half yearly

Answer 1

Answer:

3448.1rs

Step-by-step explanation:

formula for compound interest compounded half yearly

A=P[1+r/200]^2n

A=16000[1+10/200]^2*2

A=16000[1+1/20]^4

A=16000[21/20]^4

A=16000[21*21*21*21/160000]

A=[194481/10]

A=19448.1rs

compound interest=19448.1-16000

=3448.1rs