Question

Find the CI at the rate of 14% per annum for 1 year on a sum of RS 12000 compunded halfyearly

Answer 1

Given, rate =14%. time=1 year (two half years). p=12000. A=p(1+r/100) raise to the power of 2. 12000(1+7/100) raise to the power of 2=13738.8. CI= A-P =13738.8-12000=1738.8