Question

Find compound interest when principal is 56000 at 15%per annum compounded half yearly for 2 years

Answer 1

Step-by-step explanation:

compound interest formula

compound interest =A-P

to find A formula

A = P (1+R/100)^N

For half yearly value of R=r/2 and N=2n

Given

P=56000

R =15/2

N =2n

We have the value of n=2years

N=2×2=4

first find the value of A put the value in A formula

A =56000(1+15/100×2)^4

A =56000(1+3/20×2)^4

A =56000(43/40)^4

A =56000×43/40×43/40×43/40×43/40

A =35×43×43×43/40×43/40

A =35×1849×43/40×43/40

A =74786.27

We have the value of A

C.I=A-P

C.I =74786.27-56000

C.I =18786.27

We get the compound interest

I hope it's help you