Question

Find the compound interest on 1000 at the rate of 8% per annum for 1% years wh compounded half -yearly
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Answer 1

Answer ⤵️

Since the rate of interest is 10% per annum, therefore, the rate of interest half-yearly = ½×8%= 4%

Principal for the first half-year= ₹1000

Interest for the first half-year = ₹ 1000×4×1/100= ₹40

Amount after the first half-year = ₹1000+40=₹1040

Principal for the second half-year = ₹1040

Interest for the second half-year= ₹1040×4×1/100= ₹41.6

Amount after the second half-year= ₹1040+41.6=₹1081.6

.

. . C.I. for 1 half - yearly = final amount - (original) principal

= ₹1081.6-1000

= ₹81.6

Step-by-step explanation:

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