Question

What will be the compound interest of ₹ 48,000 at 10% for 3/2 years, if the rate of interest is applied for six months?​

Answer 1

Here P = RS.48000, n = 2 years

r = 20% ( compounded annually)= 20/100= .2

Total amount A = P(1+I)^n = 48000(1+.2)^2

= 48000×(1.2)^2 = 48000× 1.44=480×144=69120

So interest = 69120 - 48000= 21120

So compound interest = 21120

Answer 2

Answer:

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