Question

2. Find compound interest on Rs.8000 for 1 year at 9% per annum compounded half yearly.​

Answer 1

Step-by-step explanation:

Given:-

Sum = Rs. 8000

Time = 1 year

Rate of Interest = 9%

To find:-

Find compound interest on Rs.8000 for 1 year at 9% per annum compounded half yearly.

Solution:-

Given that

Principle (P)= Rs. 8000

Time (T)=1 year

Rate of interest per annum = 9%

Rate of interest per half year = (9/2)%

If the interest is calculated half yearly compounded

then Number of times it's calculated = 2

n=2

We know that

Amount (A)=P[1+(R/100)]^n

On Substituting the values in the above formula

=>A = 8000×[1+{(9/2)/100}]^2

=>A = 8000×[1+(9/200)]^2

=>A = 8000×[(200+9)/200]^2

=>A = 8000×(209/200)^2

=>A = 8000×(209/200)×(209/200)

=>A = (8000×209×209)/(200×200)

=>A = (8000×209×209)/40000

=>A = 2×209×209/10

=>A = 87362/10

=>A = 8736.2

Amount = Rs. 8736.20

We know that

Amount = Principle + Interest

=>Interest = Amount - Principle

=>Interest = 8736.2-8000

=>Interest = Rs. 736.20

Answer:-

The compound interest for the given problem is

Rs. 736.20

Used formulae:-

• Amount (A)=P[1+(R/100)]^n
• Amount = Principle + Interest
• Where, P=Principle
• R = Rate of interest
• T = time
• n=Number of time the interest calculated compoundedly

Answer 2

Answer:

8000, Rate, R = 9% per annum compounded half yearly for 1 year. Now, There are two half years in a year. Therefore compounding has to be 2 times. And rate = half of 9% = 4.5% half yearly.

Step-by-step explanation:

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