Question

find the compound interest on 15000 of 1
year at 16% per annum compounded half
yearly.​

Answer 1

Answer:

17496

Step-by-step explanation:

16%/2= 8 %(Compounded half yearly)

100:108

→25:27

→625:729(interest credited 2 times in a year)

625 is principal

and 729 is (principal + interest)

625=15000

then 729= 17496...

Answer 2

Step-by-step explanation:

Given in question ; Principal = 15000, Time = 1 year and Rate = 16% p.a.

1. When compound interest is half-yearly, formula will be : C.I. = P{1+R/2/100}²