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Find the compound interest on rupees 60,000 for one year at the rate of 6 precent p.a compounded half yearly. |
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Answer» :Here, P = 12,000, R = 20% and n = 2 YEARS. AMOUNT after 2 years = P ( 1 + r/2) 2n = 12,000 ( 1 + 0.20/2) 2 x 2 = 12,000 ( 1 + 0.1) 4 = 12,000 (1.1) 4 = 12,000 x 1.4641 Amount = 17569.20 ∴ C.I = A - P C.I = 17569.20 - 12000 C.I = 5569.20 rupees |
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