Question

What is the difference of the CI and SI on ₹16000 at the rate of 5% per annum compounded half-yearly for 1 1/2​

Answer 1

Answer:

SI= PRT/100

Since interest compounded half yearly so n= 3 and r= 5/(3/2) % = 10/3%

S= (16000*(10/3)*3)/100=1600

CI

A=P(1+R/100)^n

= 16000(1+10/3*100)^3

= 16000(310/300)^3

= 17654

so CI = 17654-16000

= 1654