Question

Calculate the amount and the compound
Interest by using the formula for compound interest principal = 8000 , Rate - 10%-half yearly
Time =1whole1/2​

Answer 1

Step-by-step explanation:

P=8000, R=10/2=5%, T=3/2=3 half years

Interest for the first year=8000*5*1/100=400

principal for second year=8000+400=8400

Interest for second year=8400*5*1/100=420

principal for third year=8400+420=8820

Interest for third year=8820*5*1/100=441

Amount=8820+441=9261

Compound interest=9261-8000=1261

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