Question

how much will a sum of Rs 24000 amount to in 2 years at 10% per annum compounded semi annually​

Answer 1

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Answer 2

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,

$A=P(1+\frac{r}{n})^{nt}$

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,

$24000=P(1+\frac{0.1}{2})^{2\times 2}$

$24000=P(1+0.05)^{4}$

$24000=P(1.05)^{4}$

$24000=P\times 1.21550625$

$P=\frac{24000}{1.21550625}$

$P=19744.85$

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

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