Question

8,000 for 1 year at 9% per annum compounded half yearly ( you could use the year calculation using SI formula to verify​

Answer 1

Answer:

Step-by-step explanation:

Amount=Principal(1+  100 /Rate )  Time

c ompound Interest = Amount- Principal

Therefore, in this case, since the interest is compounded annually the time =2.5 years  

and rate =4.5% per half year

Amount=8000(1+  200 /9  )  2

Amount =8736.20

Compound Interest = Amount - Principal =8736.20−8000=Rs.736.20

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