Practice mode Compound Interest

What is the compound interest on Rs. 16,000 for 1.5 years at 10% per annum, compounded half-yearly?

Correct answer D. Rs. 2,522

Explanation

Half-yearly rate = 5%, periods = 3. A = 16000 × (1.05)³ = 18,522. CI = Rs. 2,522. For half-yearly compounding, halve the annual rate and double the number of years.

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What is the compound interest on Rs. 16,000 for 1.5 years at 10% per annum, compounded half-yearly?

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What is the compound interest on Rs. 16,000 for 1.5 years at 10% per annum, compounded half-yearly?

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