Question

35. Find the compound interest on ₹48,000 for 1 year 4months at 8% per annum when compounded half yearly​

Answer 1

Answer:

3916.80/-

Step-by-step explanation:

Principal (P) = Rs. 48000

Rate (R)

=

8

%

p

.

a

.

Time (n)= 1 year

Interest is compounded half yearly

∴

A

=

P

(

1

+

R

200

)

2

n

=

48000

(

1

+

8

200

)

2

=

48000

×

26

25

×

26

25

=

76.8

×

26

×

26

=

R

s

.

51916.80

Therefore, compound interest = A-P

= Rs. (51916.80 - 48000)

= Rs. 3916.80