Question

Find the compound interest on rs. 3500/- after one year if compounded half yearly.
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Answer 1

Answer:

Here, P = $12,000, R = 20% and n = 2 years.

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

= 12,000 ( 1 + 0.20/2) 2 x 2

= 12,000 ( 1 + 0.1) 4

= 12,000 (1.1) 4

= 12,000 x 1.4641

Amount = $ 17569.20

∴ C.I = A - P

C.I = 17569.20 - 12000

C.I = $ 5569.20

Answer 2

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