Question

How much would a sum of RS 16000 amount to in 2 years at 10% per annum. If the interest is cumpounded half yearly

Answer 1

P=16000
I for half yearly = 1/2(10% of 16000) (since 1year=12 months or half year = 6 months)

=1/2(10/100*16000)
=1/2(1600)
=800
I for 2years = 4*800
=3200
A= P+I
=16000 + 3200
=19200