Question

What will Rs.80,000 amount to in 2 years at the rate of 20% p.a., if interest is compounded half yearly?

Answer 1

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Answer 2

Rs.80,000 amount to Rs.96800 in 2 years at the rate of 20% p.a., if interest is compounded half yearly

Step-by-step explanation:

Principal = Rs.80000

Time t = 2 years

Rate of interest r = 20% =0.2

No. of compounds per year n = 2

Formula $: A=P(1+\frac{r}{n})^t$

Substitute the values in the formula :

$A=80000(1+\frac{0.2}{2})^2$

A=96800

Hence Rs.80,000 amount to Rs.96800 in 2 years at the rate of 20% p.a., if interest is compounded half yearly

#Learn more:

Compound interest on ₹20000 for 2 years at 20%p.a. compounded half-yearly

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