Find the amount for Rs. 6000 at 10% per annum, compounded semi-annually for 2 years.
Rs.1395
Rs.1293
Rs.1500
Rs.1595
Explanation:
Here n = 2 years x 2 = 4 periods
Similarly, R =102102= 5% (for half year)
P = 6,000
A = 6,000(1+5100)4(1+5100)4 = Rs. 7,293
Interest = Rs.7293 - 6000 = 1293
Here n = 2 years x 2 = 4 periods
Similarly, R =102102= 5% (for half year)
P = 6,000
A = 6,000(1+5100)4(1+5100)4 = Rs. 7,293
Interest = Rs.7293 - 6000 = 1293