Question

Calculate the compound interest on RS 8,400/- for 1 year at the rate of interest 10% per annum compounded half-yearly.​

Answer 1

Answer:

Rs. 840

Step-by-step explanation:

Amount = Principal ( 1 + Rate / 100 ) ^Time

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

A = 8400(1+0.1)^1

A = 8400 X 1.1

A = Rs.9240

Interest = Amount - Principal

I = A - P

I = 9240-8400

I = Rs. 840