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a bank gives 16 interest per annum compounded semi annually what interest a man get on amount of rs 10000 in 2 years

Asked by loverajub4u 18th February 2020, 12:18 PM
Answered by Expert
Answer:
Here, P = 1000, R = 16% annually = 16/2=8% (semi-annually), n = 2 x 2 = 4
therefore space straight A equals 10000 open parentheses 1 plus 8 over 100 close parentheses to the power of 4 equals 10000 open parentheses 1 plus 2 over 25 close parentheses to the power of 4 equals 10000 open parentheses 27 over 25 close parentheses to the power of 4 equals space Rs. space 13604
rightwards double arrow CI equals straight A minus straight P equals 13604 minus 10000 equals Rs. space 3604
Answered by Expert 19th February 2020, 10:30 AM
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