How much would a sum of16000 amount to in 2 years time at 10% per an – InterviewSolution

1.	How much would a sum of16000 amount to in 2 years time at 10% per annum compound interest, interest being payable half-yearly?
Answer» ci = p(1+r)^nhere r= 0.1/2 = 0.05 since compounded half yearlyn = 4 for 2 years ci = 1600(1+0.05)^4ci = 1600 (1.05)^4ci = 1944.81 rupeesans.

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