Question

Kriti invested the sum of ₹ 27,000 at the rate of 8 % per annum compounded half yearly. How much amount will Kriti receive after a year?​

Answer 1

p=27000

r=8% per year

= 8%/2 =4% per half year

n = 1 year

=2 half years

A =p(1+r)ⁿ

= 27000(1+4%)²

= 27000 × 1.04² = 29203.20