calculate the amount and compound interest on.
Rs.10,000 for 1 year at 8% per annum compounded half yearly
Answers
Answered by
2
Step-by-step explanation:
Principal (P) - 10,000
Rate of interest (R) - 8% = 8/2 = 4% ( compounded half yearly)
Time (n) - 1 year = 2 half years
Interest is compounded half yearly
A = P (1+R/100)
= 10,000 (1+ 4/100)^2
= 10,000 ( 1+ 1/25) ^2
= 10,000 (26/25)^2
= 10,000× 26/25 × 26/25
= Rs 10,816
C.I. = A - P
= Rs 10,816 - Rs 10,000
= Rs 816
Similar questions