Question

Find the compound interest on 20000 for 1 - years at 8% per annum, interest being compounded half-yearly.​

Answer 1

Answer:

1632 is the compound interest .

Step-by-step explanation:

P=20000

R= 8% p.a.

T= 1 yrs

Amount = 20000×(1 + 8/200)2

=20000×(1+ 1/25)2

=20000×(26/25)2

=20000×26/25 × 26/25

=21632

Compound interest = Amount - Principal

= 21632 - 20000

=1632RS.

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