Question

What sum will amount to Rs.1000 in 50 years at 4% p.a. compound
interest, the interest being paid half-yearly ?​

Answer 1

Answer:

A=P+(1+r/100)n

P=1000 , n=50 , r= 4%

interest paid half yearly

therefore,n=50/2 , r=4%/2

therefore, n=25 , r=2%

A=1000*(1+2/100)25

A=1000*(1.02)25

A=1000*(1.6406059)

A=1640

note: n is the power of r ,it is not multiply to n