Mr. paul inverted ₹ 50000 at an interest rate of 10 % p.a compounded
half yearly, What amount would he get after 1 year?
Answers
Answered by
2
Step-by-step explanation:
p = ₹50,000
R = 10 % p. a. = 5% per half-year
n = 1 year = 2 half year
Therefore, A = P(1+R/200)^2n
= ₹ 50,000(1 + 5/100)^
= ₹ 55125
Therefore, CI = A - P = 55125 - 50000
= ₹ 5125
Similar questions