Question

Find the amount on Rs 8000 for 1 year at 12% p.a, if interest  is compounded half yearly. ​

Answer 1

Answer:

Given,

Principal,P = Rs.8000,  Rate, R = 9% per annum compounded half yearly for 1 year.

Now, there are two half years in a year. Therefore compounding has to be 2 times.

And rate = half of 9% = 4.5% half yearly.

Therefore, the required amount = 8000(1 + 9/(2 * 100))^2  = Rs. 8736.20

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