Find out the C.I on Rs.5000 at 4% p.a. compound half-yearly for 1 1/2 years. Interest
Q1. Find out the C.I on Rs.5000 at 4% p.a. compound half-yearly for 1 1/2 years. Interest
Answer: Rs.306.04
Explanation: At half-yearly compounding, rate = 2% per period and periods = 3. Amount = 5000×(1.02)³ = 5306.04, giving CI = Rs.306.04.