Question

Find the compound interest on Rs. 3,000 at the rate of 6%per anum for 1*1 / 2 years compounded half-yearly.

Plzz give me the solution of this with explanation.​

Answer 1

Here,  

P = Rs 3000, R = 6%, n = 3/2

Amount after 3/2 years = P(1 +R/2)^2n

=3000(1 + 0.06/2)^2x3/2

=3000(1 + 0.03)^2

=3000 (1.03)^2

=1.06 x 3000

= Rs 3182. 7

C. I = A - P

     = 3182.7 - 3000

      = Rs 182.7