Question

Calculate the amount and compound interest by using compound interest
formula on Rs. 8000 for 1 year at 8% per annum compounded half yearly.

Answer 1

Answer:

736.2

Step-by-step explanation:

Given,

Principal,P =Rs.8000, Rate, R = 9% 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 9% = 4.5% half yearly.

Therefore, the required amount =

= Rs. 8736.20

And Compound Interest, CI = Amount - Principal = Rs. (8736.20 - 8000) = Rs. 736.20

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