Find the amount and the compound interest on ₹8,000 for
1/½
years at 8 % per annum
compounded half yearly.
Answers
Answered by
3
Answer:
2648
Step-by-step explanation:
Given Principle P=Rs.8000
Time t=1
21 = 23
years
But, as the interest is compounded half yearly t=
23
×2=3years
Rate of interest R=10%
A=P(1+
100
R) t
A=8000(1+
100
10)
3
A=8000(100110) 3
A=8000×(1.1) 3
A=8000×1.331
A=10648
CI=A−P
CI=10648−8000
CI=Rs.2648
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