Question

II. What will Rs. 2000 amount to in two years if it is invested in 20% p.a.
compound interest, interest being compounded semiannually?
A) Rs. 2880
B) Rs. 3160
C) Rs. 2928.20 D) Rs. 3148.40​

Answer 1

Answer:

A = $ 2,928.20

A = P + I where

P (principal) = $ 2,000.00

I (interest) = $ 928.20