Question

Find the amount and the compound interest on ₹16000 for 1

1

2

years at 10% per

annum, the interest being compounded half-yearly.​

Answer 1

20000 is the answer

plz check the answer

Answer 2

solution

solutionIt is calculated as under -Interest rate per annum - 10%No of rests per annum - 1 for annual, 2 for half year, 4 for Quarterly and 12 for monthlyEffective interest per rest - Per annum Interest rate divide by no of rest per annum - 10/2 = 5%Rest Period in known time - 1–1/2 years / 6 months = 3Interest = Principal x (1+Effective interest rate) raised to power 3 - Principal AmountOr16000 x 1.05 x 1,05 x 1,05 - 16000 = 2522/-

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