Question

find the compound interest on 14000 1 1 by 2 years at 12% if the interest is compounded half yearly

Answer 1

For compound interest,

Amount =P(1+r/100)rase to n

=14000(1+12/100)rase to 2

=14000(1+2/25)rase to 2

=14000(27/25)rase to 2

=14000×27/25×27/25

=560×27×27/25=16329.6

C.I=amount - principal

=16329.6-14000

=2329.6