Q. 28: Find the amount the compound interest on Rs. 24,000 compounded semi-
annually for 1 % 2 years at the rate of 10% per annum.
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Solution
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Interest compounded half yearly
⟹r=(10%)/2=5% per interest period.
No.of interest period (n)=2(3/2)=3
P=Rs.2400
CI=P[(1+
100
r
)
n
−1]
CI=24000[(1+
100
10
)
3
−1]=3783
Hence, the compound interest=Rs.3,783
verified
Verified by Toppr
Interest compounded half yearly
⟹r=(10%)/2=5% per interest period.
No.of interest period (n)=2(3/2)=3
P=Rs.2400
CI=P[(1+
100
r
)
n
−1]
CI=24000[(1+
100
10
)
3
−1]=3783
Hence, the compound interest=Rs.3,783
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