Question

find the compound interest on 135000 for 3/2 year at 20/3% pa when compounded semi annually
and answer is 13955​

Answer 1

Answer:

Given, P=32000 Rs

R=10 % p.a

n=9 months =

4

3

year

If interest compounded quarterly,

Amount = P(1+

4×100

R

)

4n

=32000(1+

400

10

)

4×

4

3

=32000(1+0.025)

3

=34460.5Rs

Compound interest = Amount - Principal

=34460.5−32000

=Rs.2460.50