Question 8

Rs. 10000 is being compounded at 20% per annum. Calculate the amount after 2 years if rate of interest is charged half yearly.

Solution

$$A=10000(1+\frac{20}{200})^4$$

$$A=10000(1.1)^4$$

$$A=10000\times(1.4641)$$

$$A=(14641)$$

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