Question

Which of the following is correct to calculate the amount Reena would receive if she invests Rs.’P’ at the rate of R% per annum for ‘n’ years compounded half-yearly?​

Answer 1

Answer:

The correct formula is

$Amount =P {(1 + \frac{R}{200} )}^{2n}$

Answer 2

Answer:

$amount = p(1 + \frac{r}{200} ) {2}^{n}$