a sum of money 93750 is deposited in a bank at rate 8% of interest p a compound half year of 1.5 years what will be the interest in a year
Answers
Answered by
0
Step-by-step explanation:
principal amount given is Rs. 10, 000
Interest rate is 8% per year for 12 months.
It is compounded half yearly.
So,After 6 months, interest added =
100
8
×10,000
=Rs.800.
Sum = 10000+800
=Rs. 10,800.
After 12 months, It is compounded with interest
=10,800×
100
8
=Rs.8.64
∴ Compound interest =800+864
=Rs.1664
Similar questions