Question

6. What will be the compound interest on
*5000, if it is compounded half-yearly for
1 year 6 months at 8% per annum?​

Answer 1

Answer:

Compound interest would be Rs.

Rate of interest = 8% p.a. Hence, Compound interest would be Rs. 624.32.

Explanation:

Since we have given that

Principal = Rs. 5000

Rate of interest = 8% p.a.

Number of years = 1 year 6 months

So, Amount would be

So, Compound interest = Amount - Principal

C.I. = 5624.32 - 5000

C.I. = 624.32

Hence, Compound interest would be Rs. 624.32.