find the amount of compound interest and effective rate of interest if an amount of ₹20000 is deposited in a bank for one yr at the rate of 8% pa compounded semi annually
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Answer:RS 21632
P= RS 20000
T= 1YEARS = 2 HALF YEARS
R= 8%P.A = 4 % PER HALF YEAR
A= P(1+R/100)^n
= 20000(1+4/100)²
= 20000(1+ 1/25)²
20000((25 + 1)/25)²
20000×26/25×26/25
13520000/625
21632 ANS
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