14) What will be the profit or loss percent on the whole What will be the cuinpeand interest on Rs. 1000 at the rate of 8% per annum for 12 years when interest is compounded half yearly ?
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Answer:
Principal (P) = Rs. 1000
Rate (R)
=
8
%
p.a
Period (T)
=
1
1
2
years
=
3 half-years
∴
Interest for the first half-year
=
P
R
T
100
=
1000
×
8
×
1
100
×
2
=
R
s
.
40
Amound after one half-year = Rs. 1040
Interest for the second half-year
=
1040
×
8
×
1
100
×
2
=
R
s
.
4160
100
=
R
s
.
41.60
Amount after second half-year
= Rs. 1040 + 41.60 = Rs. 1081.6
Or principal for the third half-year = \frac{R}{1081.60}
Interest for the third half-year
=
1081.60
×
8
×
1
100
×
2
=
R
s
.
4326.40
100
=
R
s
.
43.264
∴
Compound interest for the third half-year
or
1
1
2
years = Rs. 40 + Rs. 41.60 + Rs. 43.264
=Rs. 124.864
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