calculate the compound interest on rupees thousand in 18 months at 10% per annum compound half yearly
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calculate the compound interest on rupees thousand in 18 months at 10% per annum compound half yearly
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Answer:
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Step-by-step explanation:
Here, P= 1000, r=10% per annum
and n=18 months =1218 years =23 years =121 years
∴ Amount after 18 months =P[1+21(100r)]2n
=1000[1+21(10010)]2×23
=1000(1+20010)3
=1000(2021)3
=1000×2021×2021×2021
= 1157.625
= 1157.63
C.I. =A