What will be compound interest for ₹6000 lent at 12% p.a. compounded annually for 1 1/2 years
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Answer:
6000 lent at 12 percentage per annum compounded annually for 1 1/2 years. Thank your teacher & they could win INR75K.
Step-by-step explanation:
The compound interest on Rs. 6000 at 10% per annum for one year ,compounded half-yearly is =6000×(1+
2×100
100
)
2
−6000
=6000×
20
21
×
20
21
−6000
=6615−6000=615.
So the compound interest is Rs. 615
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