A sum of ₹ 18,000 is invested for 16 months at 8% per annum compounded half-yearly. What is the percentage gain at the end of 16 months. to the nearest whole number?

Given,

Principal Amount , P = Rs. 18000

Rate, R = 8%

Time, T = 16 month = 1 yr 4 month

Compounded half yearly,

So, number of time compounded half yea1rly = 2

Rate become = 4%

According to the question,

$$A=P\left(1+\frac{R}{100}\right)$$

$$A=18000\left(1+\frac{4}{100}\right)=18720$$

A = Rs. 18720

Now for left 4 month we have

$$SI=\frac{PRT}{100}$$

$$SI=\frac{\left(18720\times\ 4\times\ \frac{4}{12}\right)}{100}=249.6$$

SI = 249.6

Amount after 16 month =18720+249.6=18969.6

Percentage increasee =$$\frac{\left(18969.6-18000\right)}{18000}\times\ 100=$$

11% Ans