Question

Calculate the compound interest at 8% p.a., compounded half-yearly, on Rs 3,000 for 1 years.
$a = p(1 + r \100)^n \\ ci = a - p$
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Answer 1

Step-by-step explanation:

A=3000(1+8/100)^n

= 3000×27/25

= 120×27. (note- 3000/25)

= Rs 3240

to find CI---

ci = 3240-3000

Rs 240 (and)