Question

what will be the compound interest of 1.5 years at 10% per annum of rupees 6000 while the interest is payable annually​

Answer 1

Answer:

Given

Principal = 6000

Rate = 10% per annum

Time = 1.5 years

Solution

The compound interest on Rs. 6000 at 10% per annum for one year

compounded half-yearly is = 6000 x $(1+\frac{100}{2X100 })^{2}$ - 6000

= 6000 × 21/20 ×  20/ 21  − 6000

=6615 − 6000 = 615.

So the compound interest is Rs. 615