Question

In how many years will 16000 earn an interest of RS 2522 at rate of 10%per annum compounded half yearly

Answer 1

Answer:

This is your answer

CI = P (1 + r/100) ^t - P

CI = P (1 + r/100) ^t - P= 16000 (1 + 10/200)^3 - 16000

CI = P (1 + r/100) ^t - P= 16000 (1 + 10/200)^3 - 16000= 16000 * 21/20 * 21/20 * 21/20 - 16000

CI = P (1 + r/100) ^t - P= 16000 (1 + 10/200)^3 - 16000= 16000 * 21/20 * 21/20 * 21/20 - 16000= 18522 - 16000

CI = P (1 + r/100) ^t - P= 16000 (1 + 10/200)^3 - 16000= 16000 * 21/20 * 21/20 * 21/20 - 16000= 18522 - 16000= 2522 is the interest

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