Rs1188 is compounded half yearly at rate of 7% for 2 years.Find the compound interest and amount
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P=₹1188
R=7%
T= 2 years = 4 half years
A= P(1+r/100) raise to the power n
= 1188 (1+7/100)⁴
= 1188 (107/100)⁴
= 1188 (131079601/100000000)
= 1188 x 1.31079601
= 1557.22
C.I. = A-P
= ₹1557.22-₹1188
= ₹369.22 ✓
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