Question

Calculate compound interest on INR 10000 over a period of 1year at 15%per annum if interest is compounded half yearly.

Answer 1

Amount when interest is calculated half yearly
$A=P{(1+\frac{r}{200})}^{2n}$
Substituting the values
$A=10000{(1+\frac{15}{200})}^{2\times 1}=11556.25$
CI =A -P =11556.25-10000=Rs. 1556.25