Find the amount and C.I. on Rs. 16000 for 2 years at 10% per annumbut

1.	Find the amount and C.I. on Rs. 16000 for 2 years at 10% per annumbut compounded half yearly?
Answer» Answer: It is calculated as under -Interest rate PER annum - 10%No of RESTS per annum - 1 for ANNUAL, 2 for HALF year, 4 for Quarterly and 12 for monthlyEffective interest per rest - Per annum Interest rate DIVIDE by no of rest per annum - 10/2 = 5%Rest Period in known time - 1–1/2 years / 6 months = 3Interest = Principal x (1+Effective interest rate) raised to power 3 - Principal AmountOr16000 x 1.05 x 1,05 x 1,05 - 16000 = 2522/-

Find the amount and C.I. on Rs. 16000 for 2 years at 10% per annumbut compounded half yearly?

Answer»

Answer:

It is calculated as under -Interest rate PER annum - 10%No of RESTS per annum - 1 for ANNUAL, 2 for HALF year, 4 for Quarterly and 12 for monthlyEffective interest per rest - Per annum Interest rate DIVIDE by no of rest per annum - 10/2 = 5%Rest Period in known time - 1–1/2 years / 6 months = 3Interest = Principal x (1+Effective interest rate) raised to power 3 - Principal AmountOr16000 x 1.05 x 1,05 x 1,05 - 16000 = 2522/-

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Find the amount and C.I. on Rs. 16000 for 2 years at 10% per annumbut compounded half yearly?​

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Find the amount and C.I. on Rs. 16000 for 2 years at 10% per annumbut compounded half yearly?