Question

. Rs 1600 lent at a compound interest of 5% per annum, compounded half yearly for one year will amount to:​

Answer 1

Answer:

Rs. 1681

Step-by-step explanation:

Amount= P[1+r/100]^t

As compounded half yearly, t= 1yr*2= 2,

r= 5%/2= 2.5%

A= 1600[1+2.5/100]^2= 1681.