find the compound intrest of e
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as interest is compounded half yearly, so there will be 2conversion periods in a year.
so n=2
Rate of interest for 6 months rate=1/2*2%
=1%
A=P(1+R/100)^n
A=1000(1+1/100)^2
=1000(101/100)^2
=1000(101/100*101/100)
=1020.1
compound interest=A-P=1020.1-1000
=RS.20.1
I hope it will help you.
so n=2
Rate of interest for 6 months rate=1/2*2%
=1%
A=P(1+R/100)^n
A=1000(1+1/100)^2
=1000(101/100)^2
=1000(101/100*101/100)
=1020.1
compound interest=A-P=1020.1-1000
=RS.20.1
I hope it will help you.
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