The compound interest on Taka 12,000 for 2 years at 10% per annum compounded half-yearly is -

Question: The compound interest on Taka 12,000 for 2 years at 10% per annum compounded half-yearly is -

Solution:
Given,
P = 12,000 (Principal)
r = 10% = 0.1
Compounded half-yearly means, n = 2
Time, t = 2 years

Compound Interest = A - P
= 14586 - 12000
= 2586 Taka