Question

find the amount and the compound interest on rupees 120000 at 8% per annum for 1 year, compounded half-yearly.​

Answer 1

Answer:

Amount = ₹129792

Compound Intrest = ₹9792

Step-by-step explanation:

Principle = 120000

Rate = 8%p.a = 4%semi annual

Time = 1year = 2half years

Amount = p × (1+r/100)^t

= 120000 × (1 + 4/100)^2

= 120000 × (1 + 1/25)^2

= 120000 × (25+1/25)^2

= 120000 × (26/25)^2

= 120000 × 676/625

= 192 × 676

= 129792

C.I = A - P

= 129792 - 120000

= 9792