Question

Find the compound interest for Rs. 100 at 16% p.a if the interest is compounded semi annually ​

Answer 1

Explanation:

Given, principal =Rs.8000

Time period = one year

Rate =16% p.a. compounded half yearly 

We know that

A=P(1+nR)m

By putting the given values in above equation,

=8000(1+20.16)2×1=8000(1.08)2=9331.2