Question

Find the compound interest on rs. 4400 @ interest of 10% p.a. with interest reckoned half yearly for a year​

Answer 1

Answer:

Compound interest

$p \times ( {1 + \frac{r}{100} })^{n}$

R = 10%

P = 4400

N = 1 year

It is compounded half yearly.

$4400 \times ( {1 + \frac{5}{200} )}^{2}$

4400(105×105/200×200)

4400(11025/40000)

$\frac{48510000}{40000}$

1212.75