Question

If ₹2000 is invested for one year compounded half yearly, at 6%, then amount is​

Answer 1

Here is the answer.

Answer 2

Given, Principal(P)= Rs. 2000

Rate of Interest (half-early)(R)= 6/2%

= 3%

Conversion period (n)= 2

We know, A= P(1+R/100)^2

=> A= 2000(1+3/100)^2

=> A= 2000× 103/100× 103/100

=> A= (103×103)/5

=> A= 10609/5

=> A= 2121.8

Therefore, Amount= ₹2121.8