Question

Calculate the CI on 48000 for 1 year at 8 % per annum compounded half yearly​

Answer 1

The compound interest on Rs 48000 for one year at 8% per annum when compounded half yearly is Rs. 3916.8

Answer 2

Compound interest:-

To calculate the compound interest when :-

Principal = rs.48000

rate% = 8%

time = 1 year

compounded half yearly.

Formula to use :-

$A = P(1 + \dfrac{r}{200})^{2n}$

where p => principal, n => time a => amount and r => rate%

substituting the values,

$48000(1 + \dfrac{8}{200})^{2 \times 1}$

$48000( \dfrac{208}{200})^{2}$

By reducing to the lowest terms we get,

$48000( \dfrac{26}{25})^{2}$

$48000 \times \dfrac{26}{25} \times \dfrac{26}{25}$

$= 51916.8$

Amount = rs.51916.8

Compound interest = Amount - Principal

CI = 51916.8 - 48000

CI = rs.3916.8

Some more formulas:-

$A = P(1 + \dfrac{r}{100})^{n}$

$A = P(1 + \dfrac{r}{400})^{4n}$

Each of these formulas are when interest is compounded yearly and quarterly.

$simple \: interest = \dfrac{ptr}{100}$