find the amount and the compound interest on 50000 rupees for first and half year at 8% per annum the interest begin compounded semi annuallyhow to solve it
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Step-by-step explanation:
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Solution:-
Given,
Principal = ₹ 50000
Rate of interest = 8%per annum.
Time = 3/2 years = 1.5 year
The formula for interest:
A = P ( 1+r/n)^nt
Where,
P= is principal,
r =is rate of interest,
t =is time in years
n =is number of times interest compounded per year.
A= 50000 ( 1+ 0.08/2)^2 (1.5)
A= 56243.2
C.I = A-P
= 56243.2 - 50000
C.I = 6243.2
Therefore the amount is ₹50000 and the interest is ₹6343.2
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