Question

A person borrowed a sum of Rs 8000 at the rate of 10% per annum compounded half-yearly.
The compound interest during the second half year is
A. Rs 400 B. Rs 820 C. Rs 420 D. none of these

Answer 1

☆B) 820 Rupees

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Answer 2

Principal, P =Rs. 8000

Principal, P =Rs. 8000Rate of interest, R=10%

Principal, P =Rs. 8000Rate of interest, R=10%Rate of interest per conversion period =12×10%=5%

Principal, P =Rs. 8000Rate of interest, R=10%Rate of interest per conversion period =12×10%=5%n=Number of conversion periods=2 (∵1 year=2×6 months)

Principal, P =Rs. 8000Rate of interest, R=10%Rate of interest per conversion period =12×10%=5%n=Number of conversion periods=2 (∵1 year=2×6 months)Amount , A=P(1+R100)n

Principal, P =Rs. 8000Rate of interest, R=10%Rate of interest per conversion period =12×10%=5%n=Number of conversion periods=2 (∵1 year=2×6 months)Amount , A=P(1+R100)n∴A=8000(1+5100)2=8000×441400=Rs.8820

Principal, P =Rs. 8000Rate of interest, R=10%Rate of interest per conversion period =12×10%=5%n=Number of conversion periods=2 (∵1 year=2×6 months)Amount , A=P(1+R100)n∴A=8000(1+5100)2=8000×441400=Rs.8820C.I. =A-P= Rs. 8820-Rs. 8000=Rs. 820