If ₹ 2,000 is invested at the rate of 20% per annum, compounded half-yearly, then the
amount after 18 months will be:
corect answer should be 2662 rs
Given,Principal,P=Rs.2000
Compoindrate,R=20%perannum
=$$\frac{20}{2}$$=10%half - yearly
Time=18month=3half - years
Amount,A=$${P\times [1+(\frac{R}{100})]^n}$$
=$${2000\times [1+(\frac{R}{100})]^3}$$
=$$\frac{2000\times 11\times 11\times 11}{10\times 10\times 10}$$
A=Rs.2662
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