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