Question

find the amount and the compound intrest on 24000 at 1 and a half years at 10% per annum for 1 year compounded anually​

Answer 1

Answer:

Interest compounded half yearly

⟹r=(10%)/2=5% per interest period.

No.of interest period (n)=2(3/2)=3

P=Rs.2400

CI=P[(1+

100

r

)

n

−1]

CI=24000[(1+

100

10

)

3

−1]=3783

Hence, the compound interest=Rs.3