Question

2.4
year
What will be the compound interest on a principal of Rs. 8000 in 1
when rate of interest is 5% per annum. Note that interest is calculated every
6 month.​

Answer 1

Correct Question:

• What will be the compound interest on a principal of Rs. 8000 in 1  year when rate of interest is 5% per annum. Note that interest is calculated every  6 month

Answer:

• Compound interest is ₹ 405

Step-by-step explanation:

Given that:

• Principal = ₹ 8000
• Rate = 5% per annum
• Time = 1 year
• Interest is calculated every six months.

To Find:

• Compound Interest

Solution:

Rate = 5% per annum = 2.5% per half year

Time = 1 year = 2 half years

Principal = ₹ 8000

Interest on first half year:

$\sf{\longrightarrow\dfrac{8000\times2.5\times1}{100}}$

Cutting off the zeros,

$\sf{\longrightarrow\dfrac{80\!\!\!\not{0}\!\!\!\not{0}\times2.5\times1}{1\!\!\!\not{0}\!\!\!\not{0}}}$

Multiplying the numbers,

$\sf{\longrightarrow 200}$

Amount at the end of 1st half year = ₹(8000 + 200) = ₹ 8200

Principal for 2nd half year = ₹ 8200

Interest on second half year:

$\sf{\longrightarrow\dfrac{8200\times2.5\times1}{100}}$

Cutting off the zeros,

$\sf{\longrightarrow\dfrac{82\!\!\!\not{0}\!\!\!\not{0}\times2.5\times1}{1\!\!\!\not{0}\!\!\!\not{0}}}$

Multiplying the numbers,

$\sf{\longrightarrow 205}$

Amount at the end of 2nd half year = ₹(8200 + 205) = ₹ 8405

Now,

CI = (A - P)

= ₹(8405 - 8000)

= ₹ 405

Hence, compound interest is ₹ 405.

Answer 2

Answer:

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