Find the amount and the compound interest on $R s . 160000$ for $2$ year at $10$ % per annum compound interest half-yearly.

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Solution

Given Rate = 10% annum
= 5% per half year
time = 2 years = 4 half year
Amount = $P (1 + \frac{R}{100})^{n}$
$= 160000 (1 + \frac{5}{100})^{4}$
= Rs. 194481
Compound Interest = Amount - Principal
= 194481 - 160000
= Rs. 34481

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