Question

calculate the amount of compound interest- Rs8000 for 1 year at 9% per annum compounded half yearly.

Answer 1

Answer:

Step-by-step explanation:

Principle = p = 8,000

Rate of interest = 9%

Time = 1 yrs

Compounded semi annually

$Amt = p(1+i)^n$

$Amt = 8,000(1+0.045)^{\frac{1}{2}}$

$Amt = 8,000(1.045)^{\frac{1}{2}}$

$Amt = 8,000 * 1.0222524$

$Amt = 8,178$

Hence the amount will be 8,178