Question

Find the amount and the compound interest on rs8000 in 3/2 years at 20percent compounded half yearly

Answer 1

Amount =P (1+R÷2/100)^ n

= 8000×( 11/10)^1 ×( 1+1÷2×20/100)

= 8000×121/100×11/10

= 8× 1331

= Rs.10648

C.I = Amount - Principal

= 10648 - 8000

= 2642.