Question

A man lent 10000 for 1½ year at 8% p.a.If he had compounded the interest half yearly,instead of annually what would he have gained *
lol​

Answer 1

Answer:

re.816

Step-by-step explanation:

Principal, P =Rs.10000, Rate, R = 8% per annum compounded half yearly for 1 year.

Now, There are two half years in a year. Therefore compounding has to be 2 times.

And rate = half of 10% = 5% half yearly.

Therefore, the required amount =

= Rs. 10816

And Compound Interest, C.I. = Amount - Principal = Rs. (10816 - 10000) = Rs. 816.