Question

Find the compound intrest on 60000 at the rate of 10% per annum for 1 and half years when interest is compounded half-yearly

Answer 1

a = ₹6000 rate = 10% per anumn= 10/2per half years = 5 per half years n = 1 and half years = 3/2 years = 3 half year
A = p(1+r/100)^3
6000(1+5/100)^3
6000×(21/20)^3
6000×21/20×21/20×21/20
= 27783
So the required sum is ₹27783.