Find the compund interest on Rs. 15000/- in 2 years at 10% per annum, the interest being compounded half-yearly
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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
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
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