Find the company interest on rs 48000 for 1 tera at 8/ per annum compounded half year
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We know that
compound interest = CI = P((1+i)^n - P
P = Principal Amount
i = Rate of interest Per Annum
n = Time
P = 48000 ; n = 1 year. compounded half yearly so. 1×2 =2 periods ; i = 8%
CI = 48000(1 + 8/100)^2 - 48000
=48000(1 + 0.08)^2 - 48000
=48000(1.08)^2 - 48000
=48000 (1.1664) - 48000
=55987.2 - 48000
=7987.2
compound interest = CI = P((1+i)^n - P
P = Principal Amount
i = Rate of interest Per Annum
n = Time
P = 48000 ; n = 1 year. compounded half yearly so. 1×2 =2 periods ; i = 8%
CI = 48000(1 + 8/100)^2 - 48000
=48000(1 + 0.08)^2 - 48000
=48000(1.08)^2 - 48000
=48000 (1.1664) - 48000
=55987.2 - 48000
=7987.2
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