Question

6. Find the compound interest on 2,50,000 at the rate of 8% per annum for 1(1/2) years when interest
compounded half-yearly.
​

Answer 1

31216

Step-by-step explanation:

Given,

• Interest per annum :- 8%
• To be compounded :- for every 6months
• Amount :- 250000

We know,

• if 8% per annum then for 6months it is 4%

Hence,

• 250000x104/100x104/100x104/100 = 281216
• C.I. = 281216 - 250000 = 31216