How much will a sum of 24000 amount to in 2 years at 10%per annum compounded semi annually
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Answers
Answer:
The sum will be Rs.19744.85.
Step-by-step explanation:
Given : Rs 24000 amount to in 2 years at 10% per annum compounded semi annually.
To find : How much will a sum ?
Solution :
Using compound interest formula,
A=P(1+\frac{r}{n})^{nt}A=P(1+nr)nt
Here, A is the amount A=Rs.24000
r is the interest rate r=10%=0.1
t is the time t=2 years
n is the number of compounding a year n=2
Substitute the values,
24000=P(1+\frac{0.1}{2})^{2\times 2}24000=P(1+20.1)2×2
24000=P(1+0.05)^{4}24000=P(1+0.05)4
24000=P(1.05)^{4}24000=P(1.05)4
24000=P\times 1.2155062524000=P×1.21550625
P=\frac{24000}{1.21550625}P=1.2155062524000
P=19744.85P=19744.85
Therefore, the sum will be Rs.19744.85.
#Learn more
Find the compound interest on rs.24000 compounded semi-annually for 1 1/2 years at the rate of 10% per annum
https://brainly.in/question/3900553
Answer:
Principal = 24000
Rate of Interest = 10% p.a.
Time = 2 years
A = P(1 + r/n)^nt
A = 24,000.00(1 + 0.1/2)^(2)(2)
A = 24,000.00(1 + 0.05)^(4)
A = 24000*1.21550625
A = 29172.15