Question

calculate the amount and compound interest

Rs 8,000 for 1 year at 9% per annum compounded half yearly.

(You could use the year by year calculation using SI formula to verify).​

Answer 1

Answer:

A=P(1+R/100)^n

A= 8000×(1+9/100)^1

=8000×109/100

= 8720

CI= A-P

CI= 8720-8000

I= 720