Question

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compute the compound interest on ₹5,000 for 1½ years at 16% per annum , compounded half-yearly ?


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Answer 1

Answer:

Time = 1 1/2 years = years. Rate of interest = 16 % ...

Time = = 3 duration. Simple interest on the period of six months i.e ,when, n=1, P= Rs 5,000,R=8% is given by the formula: =

= Amount after six months = Rs 5,000 + Rs 400 = Rs 5,400. ...

Simple interest(6 Months to 12 Months) = Amount after 12 months = 5400 + 432 =Rs 5,832. ...

hope helped u yukti.