Answer:
Rs 2555
Step-by-step explanation:
Principal = (P) = Rs 16, 000
Time = (t) = 3 years
Rate = (r) = 5%
Amount = Principal × (1 + (r/2 × 100)) n × 2
= Rs 16,000 × (1+ (5/200)) 3 × 2
= Rs 16,000 × (205/200)6
= Rs 16,000 × 41/40 × 41/40 × 41/40 × 41/40 × 41/40 × 41/40
= Rs 18,555
C.I. = Amount – Principal
= Rs 18,555 - Rs 16,000
Rs 2555
