Find the compound interest on Rs.5000 at 12% p.a. for 1 year 6 months, if the interest is compounded semi-annually.
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Answered by
4
Answer:
P = Rs 5,000
t = 1 year 6 months, so t = 3
r = 8% per annum
C.I=P(1+
100
r
)
t
−P
=P((1+
100
r
)
t
−1)
=5000((1+
100
8
)
3
−1)
=5000(0.2597)
=Rs1298.5(Rs1298.5)
Answered by
6
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