Question

Compute the compound interest on rupees 3200for 1 years at 8% per annum when the compound half yearly

Answer 1

When we can half yearly
the rate gets half and the time gets doubled
so the formula is like this
$amount = p(1 - \frac{ \frac{r}{2} }{100} ) {}^{2t}$
Amount= 2949.12
Compound interest= amount-principle
= 2949.12-3200
=₹