Question

Rs 1600 lent at a compound interest of 5% per annum,compunded half yearly for one year. What will it amount to?

Answer 1

Answer:

Deposit Amount = 6000

Interest % (Per Year) = 10

Interest Frequency = Half Yearly

Tenure (In Months) = 24

Results:

Interest Earned = ₹ 1,293.04

Maturity Amount = ₹ 7,293.04