Question

Find the compound interest on rs 2000 for 1by half years at 10% p. a when the interest is compounded half yearly

Answer 1

p= ₹2,000
i= 10% p.a. or 5% half yearly or 0.05 half yearly
t= 1 and 1/2 year or 3 × 6 months

1st 6 months' interest
= ₹ 2000 × 0.05
=₹ 100

2nd 6 months' C.I.
= ₹ (2000+100) × 0.05
= ₹ 2100×0.05
=₹105

3rd 6 months' C.I.
= ₹ (2100+105) × 0.05
= ₹ 2205 × 0.05
= ₹ 110.25

therefore amount at the end of 1 and 1/2years
= ₹ (2205 + 110.25)
= ₹ 2315.25 ( ≈ ₹2315)


I hope my answer was helpful to you, amigo ;)