Question

find the compound interest on ₹2400 at 12%per annum for 3/2 years compounded half yearly​

Answer 1

Here, P =₹2400 , R = 12% and n = 3/2 years.

Amount after 2 years = P ( 1 + r/2)2n

= 2400( 1 + 12/2)2 x 3/2

= 2400( 1 + 6)3

= 2400 (7)3

= 2400×7×7×7

Amount = 823,200

∴ C.I = A - P

C.I = 823200-2400

C.I = 820,800