Find the compound interest on Rs 12000 for 2 1/2 years at 5% p.a. Also find the amount.
Answers
Answered by
3
Answer:
If interest is compounded half yearly, rate of interest = R / 2 and A = P [ 1 + ( {R / 2} / 100 ) ]T, where 'T' is the time period. For example, if we have to calculate the interest for 1 year, then T = 2. For 2 years, T = 4.
Similar questions