Question

Shankaran invested ₹ 28000 in a finance company at 12% per annum for 2 years, compounded semi annually. what amount will he get at the time of maturity​

Answer 1

Answer:

₹35,349.35

Step-by-step explanation:

Principal Shankaran invested: ₹ 28000

✪ Compounded Semi Annually

✪ 12% per annum

✪ For 2 years

Now let us calculate C.P :

✪ Compound Interest = A = P (1 + r/n)^(nt)

By substituting, we get:

A = 28000*(1 + 12/2)^(3*2)

= ₹35,349.35

Therefore A = ₹35,349.35

Hope this helped!